NOESIS SUCCESSFULLY FACILITATES THREE HOTEL TRANSACTIONS FOR GINGER HOTELS
NOESIS Capital Advisors, India’s leading hotel investment advisory firm in the last 2 quarters, has successfully facilitated three hotel transactions in Mumbai, Dehradun, and Agra for GINGER Hotels, an IHCL Brands. NOESIS functioned as an exclusive transaction manager for these transactions from asset identification to contract negotiations and signing.
Mumbai Hotel consists of 104 keys strategically located near Bombay Exhibition Centre, Goregaon. This hotel is a part of a mix-use development, scheduled to be operational by June 2022. This hotel inventory will be a big relief for exhibitors, and corporate houses within Goregaon & Malad micro markets due to limited branded hotel room supply.
Dehradun Hotel consists of 72 keys strategically located on Rajpur road. This hotel is going to be a GINGER lean luxe product, as they are part of this hotel from the planning stage. Delhi-Dehradun Economic corridor is going to improve the connectivity in the region. NOESIS negotiated a 30-year long-term lease right on the hotel for GINGER.
Agra Hotel consists of 75 keys strategically located on Fatehabad Road within 10 minutes’ drive from the iconic Taj Mahal. NOESIS negotiated 29 years & 11 months of long-term lease rights on the hotel of GINGER.
IHCL is one of NOESIS’s premier clients and is quite diverse in its offering from luxury to economy segments. We wish them success with their upcoming projects and for FY22-23.
“It has been a pleasure for the NOESIS transaction management team to represent GINGER Hotels for three consecutive transactions in Maharashtra, Uttarakhand & Uttar Pradesh. We are excited to share our vision in advising them on many more potential partnerships soon. It has been our endeavour to use our in-depth industry knowledge, hotel development & transaction completion skills in the interest of a long-term sustainable transaction. Said Nandivardhan Jain, Chief Executive Officer, NOESIS.
FY21-22 has been a brilliant fiscal year for NOESIS where we have successfully completed 100+ plus assignments ranging from Feasibility and Valuation Reports, Operator Search, Debt Syndication, Hotel buy/sell advisory, and Hotel operating company’s portfolio sale transactions. Out of these successfully completed assignments, 23 were for hotels on a variable lease/revenue share model.
Noesis is currently mandated for more than 19557 Keys for operator search and contract negotiation assignment on the franchise, management contract, and lease cum revenue sharing. Noesis is also working on a buy-side mandate for the Indian family offices, Sovereign wealth, and special situation funds to invest 3 billion dollars in distressed hospitality assets, hospitality M&A transactions, and ultra-luxury leisure and wellness assets across Asia.”
On this occasion, Mr. Puran Dawar owner of the upcoming Hotel Ginger, Agra, and Chairman of Dawar Industries, which is India’s leading footwear manufacturer and export house, said “This will be our third hospitality project in the city of Agra. We are quite bullish on Agra’s market potential. In the last couple of years, Agra’s connectivity with the key cities has improved due to state-of-the-art infrastructure development. The state government’s multiple initiatives to boost Agra tourism from domestic to global platforms, pro-business industrial policies and ambitious projects like the defence corridor encouraged us to invest in the Agra hospitality market. We are grateful to team NOESIS for their professional services from feasibility reports to operator selection to contract negotiation. We appreciate their valuable time-to-time input into our hospitality portfolio and their in-depth industry knowledge and expertise in hotel transactions.