The 50:50 joint venture between Bata India and Calcutta Metropolitan Group - Riverbank Developers - is planning to set up India’s first marina hotel beside the Hooghly river for a total cost of Rs 175 crore.
The company has inked pact with Intercontinental Hotels Group (IHG) for management and technical services for this and is aiming to commence operations at the hotel by 2013.
The five star 35-storied hotel christened -- Calcutta Riverside will have 200 rooms and 75 service apartments. Besides it will also provide parking facilities for 25 boats with cruises and other river activities.
The proposed project would be funded through a mixture of debt, equities and cash flow from the customers.
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