With an expected investment of Rs 100 crore, Indian Hotels Company Limited (IHCL), which owns the upscale hotel brand "Taj," will operate Cochin International Airport Limited's (CIAL) five-star hotel on the airport grounds,  read a release issued on Thursday.

Cochin International Airport constructed the hotel, which is ideally located near the airport entrance, as part of its land utilisation programme and also to provide the passengers with hospitality services at par with international standards. Taj CIAL at Cochin Airport is expected to be launched by middle of 2024. The airport said it has awarded the contract to IHCL with Rs 100 crore expected to be invested by the company for standardisation of its interiors in accordance with the Tata brand's grade.

As per the contract, IHCL will share a percentage of the gross revenue generated from its operation with CIAL. Commenting on the partnership, Cochin International Airport  Managing Director S Suhas said its collaboration with IHCL will give a fillip to the airport operator's development plan that envisages integration of aviation with the tourism and hospitality sectors. "We are looking forward to this association. As the Taj Group is one of the renowned luxury hotel operators in the world, we hope that this collaboration will spur our plan to increase the revenue from non-aero verticals.

Cochin International Airport is eyeing exponential growth in air traffic movement with the introduction of the new fleet of aircraft by Tata-owned Air India." The companyis hoping that this agreement will enhance the scope for a more meaningful association with one of the biggest airlines in the world, Suhas added. He attributed the success of CIAL's ambitious hotel project's bidding process to the guidance given by Kerala Chief Minister Pinarayi Vijayan. 

India’s goods export up 6% to reach USD 447.46 bn in 2022-23

IMF becomes a fan of Indian economy

Finance Minister meets IMF's Gita Gopinath, debt vulnerabilities in economy