NOIDA, INDIA Four Seasons Hotels & Resorts will manage a 250-key new-build hotel in India’s National Capital Region, under an exclusivity agreement with developer The 3C Co. that bars Four Seasons from opening any other hotels in the market for 25 years.
The 5-star mixed-use Delhi 1 development in Noida, near New Delhi, will host the third Four Seasons hotel in India, joining one in Mumbai and an under-construction property in Bangalore. Along with the hotel, Four Seasons will manage 180 luxury residences at Delhi 1. The project, estimated to cost about 1.8 billion rupees (US$41 million), is expected to be completed by 2015.
The agreement with 3C prohibits Four Seasons from flagging or managing another hotel in the National Capital Region, which includes New Delhi and outlying areas, for the next 25 years. However, the two companies are exploring additional development opportunities in India, aiming to sign three or four more hotels over the next five years.