DLF, India’s biggest real estate company, is in advanced discussions with Hilton Hotels and Resorts to subcontract management of its super luxury vacation homes including villas and apartments in an imminent project in Kasauli. It is one of the few deals in which a hotel chain will handle the entire project as normally vacation homes villas are sold directly while hospitality companies manage apartments.
Mohit Gujral, vice chairman DLF India said, “The concept of vacation homes is picking up in India with increase in disposable income”. DLF India is an associate of DLF. The recommended arrangement is distinct from DLF-Hilton joint venture (JV) set up some years back to start a chain of hotels throughout the country. They have already opened one hotel in south Delhi till date. The realtor is also discussing with an Asian hotel chain to manage and look after its luxury project, being set up in Goa. Moreover, it is also planning to start a similar project in Shimla.
With the recovery picking up in the local economy, luxury housing is seeing an increase in demand. DLF has just sold its premium residential flats costing around Rs 4 crore each in central Delhi. Moreover, it also opened at least 3 premium projects in Gurgaon including Park Place and Golf Links, which is also said to be sold within days of opening.