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DDHI has already acquired four properties at Ahmedabad,
Pune, Lucknow and Jaipur in this regard. The company
has committed an investment of 1.2 billion dollars to
set up mid-priced range of hotels in the country. In
the first phase of the project, it will make an initial
investment of 200 million dollars.
"We have completed acquisition of four properties
and signed MoUs in Hyderabad and Bangalore. Work has
already begun at Jaipur, Ahmedabad and Pune and will
shortly commence at Lucknow, Hyderabad and Bangalore,"
a company statement said adding, the first property
is scheduled to open in Jaipur in the third quarter
of next year.
With all our projects being greenfield projects, our
model will be to own, build and manage all our hotels
and our brand would be Indian yet global," Dawnay
Day Hotels India Managing Director Mandeep S Lamba said.
He said the hotel chain will target both the corporate
and leisure segments with the world standard conveniences
at wallet-friendly rates.
The company has already identified land for acquisition
in Delhi-NCR, Chandigarh, Mumbai, Kolkata, Kochi, Visakhapatnam,
Coimbatore, Dehradun, Bhubaneshwar, Agra and negotiations
are on at various levels. The hotel in Pune with 174
rooms will also have 71 service apartments, Jaipur would
be a 115 room property while Ahmedabad would have 130
rooms.
Report: http://economictimes.indiatimes.com
Interestingly, On June 1, last year the company had
made this statement in Mumbai, "Dawnay Day, which
has a financial services joint venture in India with
a former DSP Merrill Lynch executive, will build three-
and four-star hotels in cities like Mumbai, New Delhi
and Hyderabad, he (CEO, Peter Klimt) said.
"We aim to build about 20 hotels in the next three
to five years," said Peter Klimt, who founded Dawnay
Day in partnership about two decades back with an investment
of about $5 million.
UK specialist investment boutique Dawnay Day plans
to invest $200 million in India over the next few years
to build hotels for tight fisted business travellers,
Dawnay Day, which owns budget hotel chains across the
UK and Europe, has property worth $7-9 billion, he said.
Lamba, a former executive at ITC Ltd.'s hotel division,
said that Dawnay could even go in for joint ventures
if the property owner was not willing to sell the land."
For earlier report: http://in.news.yahoo.com/060601/137/64pqb.html
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