Golden Jubilee Hotels Limited (GJHL) was incorporated under the Companies Act, 1956 on December 18, 1996 under the name of “Golden Jubilee Estates Limited”. The name of the company was changed to its present name on December 5, 2006. The company did not carry on any business until July, 2005. It currently acts as a special purpose vehicle (SPV) for the construction and management of two Five star hotels at Shilpakalavedika, Madhapur, Hyderabad. The SPV is a consortium between Maha Hotel Projects P Ltd, & Basil Infrastructure Projects Ltd (both investing through Core Hotels Ventures Private Limited); and EIH Ltd pursuant to a memorandum of understanding dated 23rd July, 2005 as amended from time to time.
The company has, vide a letter of intent (LOI) dated 20th March, 2006 issued by Department of Youth Advancement, Tourism and culture, Government of Andhra Pradesh (YATC), been awarded the construction and development of the hotel project on a plot of land measuring 4.337 acres situated at Survey No 64, Shilpakalavedika, Madhapur Hyderabad on a Build, Operate and Transfer (BOT) basis under Public Private Partnership (PPP) mode.
As per the LOI the company has been leased out the project land for 33 years vide a lease agreement dated 9th May, 2007 executed between the company and the YATC. Further, the company has also executed a development and management agreement dated 9th May, 2007 with YATC for the construction and management of the hotel project for a period of 33 years.
The proposed development will have hotels to be co-branded as “The Oberoi” and “Trident”. The major shareholders of the company are Core Hotels Ventures P Ltd and EIH Ltd. Core Hotels Ventures P Ltd is a joint venture company formed by Maha Hotel Projects P Ltd, Basil Infrastructure Projects Ltd along with the foreign body corporate namely Indus Hotel Reality Mauritius Ltd and JP Morgan India Property Mauritius Company II.