Representative
').insertAfter(".article-content__img");$(".article-content__img div").find('div').remove();
Reliance Planning Hotels, Resorts, Lodging Facility Near Statue Of Unity
The Tata Group's Indian Hotels Company already is already in a partnership with Sardar Sarovar Narmada Nigam (SSNNL) and plans to launch two properties, namely Vivanta and Ginger
Topics
Reliance Industries | Mukesh Ambani | Indian Hotels Company
Reliance's new company, Reliance SOU, is planning to develop hotels and resorts near the Statue of Unity in Gujarat's Kevadia, according to a report in The Economic Times (ET). According to the details available with the registrar of companies, Reliance's new firm will foray into the hospitality industry, engaging in hotels, resorts, and service apartments that will provide short-term lodging facilities. The company also plans to develop lodging facilities on houseboats, according to the report.
Situated along the banks of the Narmada River in Kevadia, the Statue of Unity is a remarkable structure. The monument overlooks the vast surroundings and the wide-stretching Sardar Sarovar Dam. The statue has attracted around 10 million people since it was built four years ago. Significantly, Tata Group's Indian Hotels Company already has a partnership with Sardar Sarovar Narmada Nigam (SSNNL) and plans to launch its two properties, namely Vivanta and Ginger, the report added.
In a stock exchange filing, Reliance said that it had incorporated a wholly-owned subsidiary called Reliance SOU (RSOUL) with the intention of developing commercial properties. However, it did not elaborate on whether it would manage those properties directly, the ET report said.
Reliance is India's biggest retailer, and it is expanding into new domains fast. In recent times, Reliance has put a special emphasis on spreading its portfolio to consumer-facing segments.
Subscribe to Business Standard Premium
Exclusive Stories, Curated Newsletters, 26 years of Archives, E-paper, and more!
First Published: Tue, March 21 2023. 10:39 IST
RECENT NEWS
JPMorgan's Berlin Moment: Chase Takes On Europe
There is something quietly symbolic about JPMorgan Chase choosing Berlin as its gateway into continental Europe. In a fo... Read more
What Strategy's Bitcoin Sale Really Tells Us
There is a moment in every bull run when the narrative starts to fray. Not with a crash, not with a scandal, but with so... Read more
Coutts Sets Scope On New Continent
Coutts steps into private marketsCoutts, the private bank best known for serving Britain’s wealthiest families and the... Read more
From Cypherpunk To Citadel
How Crypto Moved from the Wild West to the Mainstream Financial SystemA long-form analysis of Bitcoin's journey from fri... Read more
ACB Securities: Building Scale, Trust & Innovation
ACB Securities: Building Scale, Trust and Innovation in Vietnam’s Capital MarketsACB Securities (ACBS) is emerging as ... Read more
War Risk Returns To Markets As VIX Surges
For most of the past year, global markets behaved as though geopolitical risk had largely disappeared. Inflation was eas... Read more