(PDL), India’s leading real estate company, has informed that it would build a five-star hotel comprising
152 rooms in Ahmedabad.

Parsvnath Hotels, a subsidiary of Parsvnath Developers, has undertaken construction of hotel at Vejalpur, Ahmedabad, which has received five-star category approval from the Ministry of Tourism. The project is located just 14 kms away from the airport and mere 9 kms away from the railway station.

Panoramic Universal, a Mumbai-based company having interests in hospitality and information technology, has informed that it has acquired 51% stake in Sri Vatsa Hotels for an undisclosed amount.

Rendezvous Hotels and Resorts International (RHI) has formed a Joint Venture Company with Chennai-based X S Real Properties Ltd, for managing hotels and resorts in India.

Taj Hotels Resorts and Palaces, operated by Indian Hotels Company Ltd. (IHCL), has launched a new brand, ‘The Gateway Hotel’ to target an emerging guest profile.

Global financial services giant Merrill Lynch has acquired 50% stake in the Salarpuria Group’s Rs 150 crore five-star hotel project in Bangalore.

The company has picked stake in the special purpose vehicle (SPV) floated to build a five-star hotel in Bangalore. The proposed hotel, which will have 250 rooms, is to come up on 300,000 sq. ft. on the Outer Ring Road (ORR) between Sarjapur and Marathalli, opposite Cisco corporate office.