According to a report in The Economic Times, UK’s hotel chain, Premier Inn has plans to open about 80 hotels in India in the next 10 years. The hotel chain will invest Rs 4,000 crore to build three-star hotels at various locations in the country with a combined capacity of 9,700 rooms.
Aly Shariff, Managing Director, Premier Inn, said, “We have planned 18 hotels in the first five years and 80 in 10 years with a total investment of Rs 3,500-4,000 Crore.” He said the company has formed a Joint Venture (JV) with real estate player, Emaar MGF, which will bring in the initial investment. “Our JV partner will bring in the investment initially, however, we will raise money through debt,” Shariff said. The hotel chain would begin with the metros and gradually expand to cover leisure destinations as well. |