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POLICY WATCH - HOSPITALITY

Monday, 14 July, 2008, 10 : 00 AM [IST]

Omkar Properties to launch their first resort by Dec ’08

Mumbai-based Omkar Properties Pvt. Ltd. will  launch their first property, a resort ‘Blue Ocean Resort & Spa’ at Ratnagiri in Maharashtra. The resort, to be operational by December 2008, will have villa style and five-star facilities. The resort will have around 15,000 sq ft area dedicated to a spa. The Group has acquired 40 acres of land near Ganpatipule in Ratnagiri and has developed around nine acres of that land. They will initially start up with 25 villas and two restaurants by December 2008 and will come up with a total number of 100 villas and six restaurants in the next two to three years. The Group recently acquired 25 acres of land at Ratnagiri for developing private villas. Construction work on the villas will begin in October, 2008. The Group is also considering the resort for franchise agreement.
 
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