📋 Tender Overview
Scope : To Construct High-End Luxury Suites in Goa
Bengaluru-based hospitality firm Ferns Estates has acquired a 75-keys luxury hotel in Goa from a local developer for Rs 175 crore. The plan is to construct high-end luxury suites located adjacent to the hotel, on a two-acre plot to cater to the high demand for such formats.
The company will construct additional 75 keys suites,and has secured a project loan of Rs 150 crore from Bajaj Finance for a 10- year term for the acquisition. It is also planning to expand its resort portfolio by adding about 1,000 keys over the next three to five years. The company has identified potential properties in diverse locations.
The move is strategic, as it will expand its capacity to serve a wide range of travellers, and strengthen its portfolio through a combination of lease and company-owned properties.
