Delhi-Based Jaypee Group is planning to build two hotels of over 1,200 rooms at an investment of over Rs 1,200 crore in the next two years. The hotels are a part of the group's strategy to cash in on the opportunity arising out of the Commonwealth Games and F1 Grand Prix, slated to be held in the National Capital Region in 2010.

Jaiprakash Associates ED Manoj Gaur said both hotels would be ready by the end of 2010. The group intends to build a 220-room hotel in Greater Noida, which will be ready in the first quarter of 2010. It has tied up with Six Senses Spa of Thailand to manage its spa and health club in the Greater Noida hotel. Six Senses is a resort and spa management company active in over five countries, including Thailand, Vietnam, Jordan and Spain.

The Jaypee group is also planning to build a 1,000-room hotel with Formula one championship in mind. "Spectators from across the world will come to watch the Grand Prix. We want to have the facility in place to accommodate them," says Mr Gaur. Jaypee group is developing the F1 race course in its proposed special development zone (SDZ) near Greater Noida. Taj Expressway Industrial Development Authority has allocated 2,500 acres of land to Jaypee under SDZ scheme. The SDZ scheme requires the developer to dedicate 35% of total land to a core activity, which could range from Industry, IT, institutional or Sport.

                                                                     Courtesy: - ET dtd: - 5th Sep. 2008