Clarks Exotica to invest to open hotel in Bengaluru at Rs 300 crore

Clarks Exotica Convention Resort & Spa will set up a convention hotel near Bengaluru International Airport. This will cost Rs 300 crore (excluding land cost).

The company has decided to set up the facility to attract MICE (meetings/incentives/conferences/exhibitions) events and international conventions for a minimum of 3,000 people from the European and the US markets.

The convention hotel is expected to be ready by 2020-21.

Balaji, CEO of Clarks Exotica Convention Resort & Spa, Bengaluru, said, “We have already acquired eight acres for the convention hotel which will have 300 rooms and three lakh sq ft of enclosed convention space. This is almost four times larger than the convention space we offer at Clarks Exotica.”

He added: “We are making an investment of Rs 300 crore, through debt and internal accruals. Currently we are awaiting for the final design plan from the architects.”

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