Emaar MGF said on Wednesday it will spend 2 billion rupees ($50 million) on a luxury hotel in northern India.

The company is a joint venture of Dubai's Emaar Properties and Indian real estate developer MGF Developments Ltd.

The hotel and convention centre will be a part of an integrated facility in Uttarakhand state, and will be built over two years, Emaar MGF said in a statement.

InterContinental Hotels Group will manage the convention centre and hotel under the Holiday Inn brand, it said. - Reuters