Patna: After issuance of the letter of award to M/s Kumar Infratrade Enterprises Pvt Ltd, Patna for “Development, Operations & Maintenance of 5-star category Hotel over a land parcel admeasuring approximately 1.5 acres land located at Hotel Patliputra Ashoka, Beerchand Patel Path, Patna for lease period of 60 years plus 30 years”, the selected agency has informed that they are in the final stages of negotiation given the iconic status of the project, they have shortlisted three internationally renowned 5-star Hotel brands.
1. JW Marriott
2. Hyatt Regency
3. ITC Hotels
The agency will finalize one out of the above three brands for operating 5 Hotel with minimum 100 Room on the land of Hotel Patliputra Ashoka, Patna.
As per the terms of the RFP, the selected bidder is required to enter intoan O&M Contract, with a reputed 5-star Hotel brand which has the relevant O&M experience of running a 5 Star Category Hotel, before signing of the concession agreement i.e. within 150 days from the date of receipt of the Letter of Award (LOA).
Selected agency will have to furnish annual lease premium of INR Rs. 7.57 Crore (Exclusive of applicable taxes and duties, levies, GST etc.) which means every year that amount will be paid by successful bidder up to 60+30 years (Excluding 4 years of construction period) to BSTDC and this Yearly Lease Premium amount will also increase by 10% every 5 years. Apart from that the H1 bidder will have to pay the MVR value i.e.INR28.5 cores over the period of 11 years and interest @ 9.5% to be levied on outstanding upfront premium.
The selected bidder will have to demolish the existing structure of Hotel Patliputra Ashoka, Patna and construct the new 5-star hotel as per norms and guidelines provided by Ministry of Tourism, Government of India (Gol).
