Kochi airport invites bids to run 5-Star hotel project
The Cochin International Airport Ltd (CIAL) has invited an expression of interest (EoI) for its proposed five-star hotel project coming up in Nedumbassery, near Terminal-3.
KOCHI: The Cochin International Airport Ltd (CIAL) has invited an expression of interest (EoI) for its proposed five-star hotel project coming up in Nedumbassery, near Terminal-3. As per the tender notice, the EoI is invited for the airport’s non-aero segment project, comprising a 112-room hotel on 1.75 lakh sq ft. Sources said the hotel would be a profitable venture, as the area lacks enough luxurious hotels. Besides 112-rooms, the project comprises a restaurant, coffee shop, specialty restaurant, bar, swimming pool, spa, banquets etc. Work on civil and MEP (mechanic, electrical, and plumbing) is going on.
The hotel will have six floors, and the terrace will have a specialty restaurant, a service bar, etc. The fully air-conditioned hotel is located opposite the runway. CIAL has invited tenders from suitable bidders in the hospitality sector to undertake the hotel’s operation and maintenance. An initial period of 15 years, including one year for finishing and interior works and a Right of First Refusal for further 15 years.
CIAL has stated its bidding parameters in favour of the highest revenue share per cent of total revenues.
The airport is focusing on strengthening its revenue stream from the non-aero segment after facing a significant loss in the past two years due to Covid. The focus is to generate 60% of the revenue from non-aero and 40% from aero streams. The last date for submitting bids is June 3, 2022.