Mumbai, Apr 30 (PTI) Indian Hotels Company (IHCL) on Thursday announced the signing of a cluster of bungalows in Port Blair in the Andaman and Nicobar Islands under amã Stays & Trails in partnership with Terra Rex Realty.
Expected to open by the end of next year, the amã Stays & Trails in Port Blair will offer 10 bungalows within walking distance from Manjery beach.
"As travel preferences continue to evolve towards experience-led stays, the homestay segment has emerged as a strong driver of growth. With a portfolio of over 370 bungalows across India, the expansion of ama Stays & Trails to the Andaman and Nicobar Islands, marks the brand's foray into the island destination reflecting our focus on building a diversified presence across leisure destinations. We are delighted to partner with Terra Rex's Abhishek Singh for this project,â IHCL Managing Director and CEO Puneet Chhatwal told reporters.
Of the 370 amã Stays & Trails, 185 are operational.
The development of the 10 bungalows will cost over Rs 100 crores without land, he said, adding that the villas will be developed and sold to private owners by Terra Rex and managed by IHCL.
“This will create 8-10, both direct and indirect, jobs locally per villa,” he added.
Talking about revenue from new business, including amã Stays & Trails, Chhatwal said, “in the third quarter, we expect the revenue to grow by 8 per cent and in double digit soon".
Abhishek Singh, Founder and Chairman, Terra Rex Realty and Terra Rex Energy, said, “We are delighted to collaborate with IHCL’s amã Stays & Trails on this project to bring these experiences to life for our guests. We are yet to decide when to open the villas for sale. For further expansion we are looking at land in the Andamans.”