HYDERABAD: Oakwood Worldwide, globally one of the leading provider of serviced and furnished apartments entered into a partnership with Kapil Group to launch a hotel and serviced apartments project in Hyderabad.
Named 'Oakwood Hotel and Apartments Kapil' the property will be located near Rajiv Gandhi International Airport. Hyderabad and will have 175 units of hotel rooms and serviced apartments with facilities such as banquets, business centre, restaurant and others. An investment of Rs 175 crore will be made into the building of this property which will be readied by 2021.
“Hyderabad has been developing at a rapid pace with its emerging IT, pharmaceutical and MICE sectors. We are excited to be opening our fifth property in India and the second one in Hyderabad. More specifically, we are proud to be able to provide quality corporate housing solutions to the evolving city in Hyderabad," said Dean Schreiber, MD, Asia Pacific, Oakwood Worldwide, after signing the partnership with Kapil Group on Thursday.
Oakwood Worldwide is a wholly owned subsidiary of Mapletree Investments, which provides furnished and serviced apartments. With a presence in more than 95 countries, it provides move-in-ready furnished accommodations. Kapil Group is a Hyderabad-based conglomerate with presence in different businesses and 16,000 employees.