ABIL takes its hospitality business overseas; to build a hotel in central London
Pune, June 5: Pune headquartered ABIL Group, founded by real estate baron Avinash Bhosale is now taking its hospitality business overseas. The Group has recently completed a deal and acquired a property at a landmark location at the Trafalgar Square in Central London to build a hotel.
Amit Bhosale, son of Avinash Bhosale and the Managing Director of ABIL has been spearheading the hospitality business of the Group and was instrumental in closing this prestigious deal. Apart from multiple firsts to his credit like St Regis Mumbai and W Goa, he has also successfully set up Westin Pune and Le Meridian Nagpur collectively having close to 1000 hotel rooms.
Commenting on this acquisition Amit Bhosale said, “This property at the Trafalgar Square having a development potential of 1.5 Lac square feet was owned by the BlackRock UK Property Fund. It has been acquired by ABIL at an all-inclusive cost of 97 Million Pounds (Approximately Rs.850Cr) after successfully competing through a global bidding process. We intend to build a world-class luxury hotel of about 200 plus rooms and would soon begin the discussions with leading hotel management companies for the brand tie-up. We hope to start the construction of new hotel at this place by mid next year.”
“Good opportunities for the hospitality sector and our comfort with the city of London made us choose it over any other city in the world for our first overseas project. I have been a frequent visitor to London for past many years, which has helped me to gain a lot of knowledge about this beautiful city, which was another strong reason for narrowing down on London for the expansion”, he added.
About ABIL Group – Founded by Avinash Nivrutti Bhosale in 1979, the group has gradually emerged as an important and organized player in the field of real estate, infrastructure and hospitality. Over the years, it has successfully developed some landmark residential and commercial real estate projects. It has been involved in the construction of several mainframe infrastructure projects in the country including highways, bridges, tunnels, canals and dams. Its has carved niche in the hospitality segment with brand tie-ups with premium hospitality brands in the world.
