Parsvnath Hotels, a subsidiary of Parsvnath Developers Limited (PDL), one of the country’s leading real estate and infrastructure companies, has received a four-star category approval from the ministry of tourism for a hotel-cum-shopping centre project at Parsvnath Planet Plaza, at Gomti Nagar in Lucknow.
The construction of the hotel will be undertaken by Parsvnath Hotels Limited and will be managed by Fortune Park Hotel Ltd, a wholly owned subsidiary of ITC Ltd.
Parsvnath has signed a memorandum of understanding (MoU) with ITC’s Fortune Park Hotels, under which the latter will manage Parsvnath’s 50 hotels across the country in five years.
Developed with an initial investment of Rs 25 crore, Parsvnath Planet Plaza will be spread over 7,778 square yards and have a total developable area of 150,000 square feet. Planet Plaza will be built in 12 floors, wherein ground floor will be utilised for commercial and hotel lobby, while the first two floors will be dedicated for commercial use. Rest of the floors are reserved for the hotel.
Speaking about the project, Deepak Mowar, vice president, Parsvnath Hotels Limited, said: “Gomti Nagar is among the fastest growing areas in Lucknow. Parsvnath Planet Plaza will cater to business needs and provide shopping ease coupled with plenty of entertainment options to consumers.”
The mall-cum-hotel will offer shopping facilities along with multi-cuisine food courts, a 24-hour coffee shop, banquet facility, and health and entertainment hubs for all age groups.