Bangalore city has been earmarked by the Ritz-Carlton Hotel Company, for its first hotel in India. The Ritz-Carlton Hotel Company operates over 65 hotels in Middle East, Asia, North and South America, and Europe. The planned hotel will become functional by 2010.
This luxury hotel will be developed by Nitesh Estates in India. The total cost of the project is pegged around $100 million, and will be funded by both debt and equity. Luxury brands like Gucci and Louis Vuitton are likely to roll out outlets in this hotel.
