Bharat Hotels Ltd., owning company of the Lalit Suri Hospitality Group, plans to invest Rs 1,500 crore for its upcoming nine luxury hotels across India. Plans are afoot to raise the funds through a mix of internal accruals, debt securities and external commercial borrowings. The nine hotels, which are currently under development, will come up at Jaipur, Kolkata, Noida, Ahmedabad, Chandigarh, Amritsar and Dehradun. Other two hotels are being developed in international locations namely Dubai and Koh Samui, Thailand. All the properties are expected to be operational by 2012.
Currently, the hotel chain has eight operating properties in the five-star segment under its brand The Lalit. It recently launched its eight property, The Lalit Resort & Spa, Bekal (Kerala), incurring an investment of Rs 70 crore. The resort houses 40 cottages and five houseboats.
The hotel chain had undertaken a marketing contract with Intercontinental Hotel Group under its Intercontinental brand for its properties across the country. The contracts for the Delhi, Bengaluru and Jammu and Kashmir properties expired in 2008, |