Rs 1,200 crore investment will be done to expand Bharat Hotels
The Lalit Suri Hospitality Group will invest Rs 1,200 crore to expand its business in the next three years. In the expansion plan, the group has decided to enter the mid-level segment.
In the next three years, the group will invest in developing properties in Tier II and Tier III cities in India.
During the said period, the Lalit Suri-founded chain is also aiming to enter the international markets.
The group has planned to raise Rs 1200 crore through debt from institutions and internal accruals for the expansion.
Eight new luxury properties in Kolkata, Chandigarh and several other cities will be constructed. And total investment proposed for the construction will be approximately Rs 700 crore.
The group also invests another Rs 500 crore for constructing 25 mid-level hotels. The mid-level segment will entail commissioning properties beyond the metros with a focus on business and religious travelers.
All budget properties will come up in centers like Amritsar, Pune, Mundhra and Ludhiana and will have a maximum of 50 rooms and entail an investment of Rs 20 crore to Rs 50 crore per property.
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Source: Travelbixmonitor
affordable housing project, Budget properties, Lalit Suri Hospitality Group, luxurious properties, Properties in Kolkata, properties in tier II cities
