Sunday PropTech acquires 89-room hotel in Kolkata, marks entry into city
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AgenciesThe property, which will be operated under the company's mid-premium Clubhouse brand, is part of its strategy to expand its portfolio of premium and mid-premium hospitality assets across India.
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Built in 2017, the six-storey hotel is located close to Netaji Subhas Chandra Bose International Airport, according to a statement.
The company plans to reposition and rebrand the property over the coming months, leveraging the hospitality brand ecosystem, technology platform and distribution network of PRISM, its backing entity, to improve operational performance and guest experience.
Commenting on the acquisition, Sunday PropTech board member Saurav Agarwal said the company was confident about West Bengal's hospitality and tourism potential and thanked the state government for its support and facilitation.
The company is also evaluating further hotel investment opportunities across West Bengal, he said.
Kolkata's growing commercial activity and expanding IT and business infrastructure, coupled with demand from corporate travellers, make it an important market in the company's expansion plans, the statement said.
Sunday PropTech has recently acquired eight premium serviced-apartment hotels with a combined value of approximately Rs 800 crore. These properties will be operated under PRISM's hospitality brands, including Sunday Hotels and Belvilla.
The company operates in the US, UAE and India and is also expanding into Europe.