Lakeview Residency to Be Rebuilt as 5-Star Hotel

Genex Hotels Private Limited, together with Dilip Buildcon Limited and Indian Hotels Company Limited, on a consortium basis, has got the permission to redevelop the MPT Lake View Residency in Bhopal into at least a five-star hotel along with a convention centre under the Public-Private Partnership (PPP) model.

The present property on Shyamla Hills overlooking the Upper Lake and run by MP Hotel Corporation Ltd. since 1988, is all set for demolition and will be constructed afresh as per Design, Build, Finance, Operate, Transfer (DBFOT) guidelines.

Key Highlights

• Consortium to redevelop Lake View into a 5-star hotel.
• 10.80% revenue share with Rs 3 crore annual concession fee.
• Project to strengthen Bhopal’s MICE and tourism profile.

The potential project comprises a 150-room plush hotel, a banquet hall for 1, 000 guests, and various other facilities approved under the Madhya Pradesh Tourism Policy 2025.

Besides offering the highest gross revenue share of 10.80%, the consortium also proposed an annual concession fee beginning at 3 crore with a 5% rise every year and a 16, 110 user fee.

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The concession of 60 years, which can be extended by 10 years, mandates setting up a Special Purpose Vehicle and providing a Golden Share to the authority.

Officials have hinted that the deliverables of these MICE projects, aimed at making Bhopal the destination through upgraded tourism & convention infrastructure, will be achieved within three years.