Assotech Realty to Invest Rs 200 Cr in Shirdi Hotel

New Delhi, Mar 12 (PTI) Real estate company Assotech Realty will invest Rs 200 crore to develop a hotel in Shirdi, Maharashtra, and has tied up with hospitality chain Atmosphere Core for management.

Assotech Realty will build 160 suites, measuring 45 square metres each, in the 2.5-acre hotel project.

The company already has a hotel "Sandal Suites' in Noida, being operated by Lemon Tree.

"We are coming up with a new hotel in Shirdi. The total investment will be around Rs 200 crore," Assotech Realty MD Neeraj Gulati told reporters here.

Atmosphere Core will operate and manage the upcoming all-suite property in Shirdi, he added.


"Shirdi, as a famous temple town, attracts approximately 25 million devotees annually. So, there is a good demand for such hospitality projects," Gulati said.

He said the company plans to develop more hotels across tourist destinations.

Salil Panigrahi, Co-founder and Managing Director of Atmosphere Core, said, "India's spiritual tourism sector is entering a new phase where destinations like Shirdi are witnessing more structured tourism demand alongside devotional travel. Travellers today expect comfort, curated experiences and globally benchmarked service even when visiting pilgrimage centres."

The hotel is expected to be operational in two and a half years.

Atmosphere Core has nine private island resorts in the Maldives and one heritage hotel in India.

Assotech Realty has so far developed 6-7 million sq ft of residential, commercial and hospitality projects across Delhi-NCR.