Hindustan Construction Company's township project, Lavasa Corporation, signed an agreement with InterContinental to open a 200-room midscale hotel, under its Holiday Inn brand.

The hotel is expected to open by 2015, and the construction of the new hotel is likely to commence in the third quarter of 2013. Lavasa is located close to Maharashtra's Sahayadri mountains, is around three hours away from Mumbai.

This new hotel will aid InterContinental Hotels Group's (IHG) case to relaunch the Holiday Inn brand. It is as much as $1 billion internationally on the brand. “With a growing economy and an expanding middle class, we foresee a strong demand for midscale hotels in the country, and the Holiday Inn Lavasa, Mugaon will be a great product of the next generation of hotels planned for India,” said Douglas Martell, vice-president of operations, South West Asia, IHG.
 
Mugaon is located close to the first town Dasve. Mugaon is being developed as a residential, educational, business and commercial hub. Lavasa is also expecting to attract around two million tourists annually, after it finishes construction by 2021 as per a report in Business Standard.

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