Finalists have been announced for the Development of the Year Awards in the categories of Budget and Mid-Priced Scale, First Class and Upper Mid-Scale, and Luxury and Upscale.  The awards will be presented at Hotel Investment Forum India (HIFI) taking place 14-15 January 2013, at the Leela Kempinski Gurgaon Delhi (N.C.R.), India.  HIFI is hosted by Burba Hotel Network (BHN) and Horwath HTL.

Finalists for the Development of the Year, in the category of Budget and Mid-Priced Scale, are:

• aLoft Chandigarh, with 170 keys, developed at a total cost of Rs 1,218 mn (at a cost per room of Rs 4.46 mn excluding cost of land and IDC), owned by CPI India Real Estate Ventures India & Auromatrix Hotels and operated by Auromatrix Hotels

• Hampton by Hilton Vadodara - Alkapuri, with 72 keys, developed at a cost per room of Rs 2.79 mn excluding cost of land and IDC, owned and operated by Baywood Hotels India

• Holiday Inn Express Ahmedabad, with 173 keys, developed at a total cost of Rs 854 mn (at a cost per room of Rs 3.58 mn excluding land and IDC), owned by Duet India Hotels and InterContinental Hotels Group, and operated by InterContinental Hotels Group

• Novotel-Ibis Bengaluru Techpark, with a total of 547 keys, developed at a total cost of Rs 3,084 mn (at a cost per room of Rs 4.41 mn excluding cost of land and IDC), owned by Techpark Hotels (InterGlobe Enterprises, Accor, Pacifica Partners) and operated by Accor

Finalists for the Development of the Year, in the category of First Class and Upper Mid-Scale, are:

• DoubleTree by Hilton Gurgaon, with 184 keys, developed at a cost per room of Rs 7.17 mn excluding cost of land and IDC, owned by Balprada Hotels & Hospitality (JMD Limited) and operated by Hilton Worldwide

• Regenta One Hyderabad, with 158 keys, developed at a total cost of Rs 2,250 mn (at a cost per room of Rs 7.97 mn excluding cost of land and IDC), owned by Royal Orchid Hotels and Alif Resources and Infrastructure and operated by Royal Orchid Hotels

• Vivanta by Taj Surya, Coimbatore, with 180 keys, developed at a total cost of Rs 1,365 mn (at a cost per room of Rs 6.5 mn excluding cost of land and IDC), owned by Oriental Hotels Limited (Oriental Hotels and Indian Hotels Company) and operated by Indian Hotels Company

Finalist for the Development of the Year, in the category of Luxury and Upscale, are:

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