Mars Enterprises today launched a 95-room theme-based luxury business hotel, Hotel Waterstones, at an investment of Rs 450 crore in Mumbai. "Waterstones comprises towers, clubs, hotels and apartments.

Today we have launched our club and hotels that has 95 rooms, including nine suites. Our plan for the tower and apartment is on and we expect it to be operational in 24-30 months," Mars Enterprise chairman Sanjay Narang told reporters here.

The total investment for this entire project is Rs 450 crore, of which Rs 100 has already been spent to develop the club and the hotel, he added. The funding is mainly done through equity and debt, of which Rs 300 crore is through debt and the rest through equity raised by selling a few of its brands.

The company sold its brands like The Gordon House, SkyGourmnet, Poly Estrers, Three Flights Up, The Big Cuppa, Birdy's, Roti, China Joe, and Dosa Diner. The company still owns brands like The Bombay Bistro, Rokeby Manor, Pizza by the Bay, and Eat Around the Corner.

When asked about future projects, Narang said there is nothing as of now. "We first want to concentrate on this project and want to ensure its success. After that we will think of expanding," he said. This property will be competitively priced as any other five-star hotel around the area and is targeted at expats and upper business class travellers.

Spread over 10.5 acres, this property provides features like card rooms, movie lounge, music room, game room, and a children's room apart from three restaurants and two bars.