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 Of the
total investment, an amount of Rs 1,000 to 2,000 crore has been earmarked
by the company for setting-up hotels in Punjab and South India. The proposed
property at Hyderabad is being set-up at an investment of Rs 125 crore,
and another hotel is slated to be constructed in Kochi with an outlay
of Rs 200 crore.
In a bid to speed up his ambitious plans of owning and managing a total
of 27 hotel properties by 2011 in India, Chatwal has set his eyes on acquiring
finished and semi-finished properties in most of the 21 cities he has
identified across India.
"While 10 of the 27 properties have already been committed I am
in talks with promoters of four to five underdevelopment properties in
various cities, one of which is valued around Rs 200 crore," said
Chatwal. He is looking at an inventory of 5,000 rooms in these 27 hotels.
Chatwal teed off on Thursday by opening the Hampshire Plaza Hotel, a
business hotel, in Hyderabad. A luxury brand hotel in Kochi is slated
to open by May this year, he said.
HHI will also kick off the new boutique brand, Dream Hotels, apart from
convention hotels in Delhi, Mumbai, and Bangalore with capacities of 2500
to 4000 seats. The Kochi property will be a mini-convention property with
a capacity for 1200 people.
The second hotel property in Hyderabad will be complete by July 2009.
Another luxury hotel is planned near the upcoming international airport.
The group is considering building three properties in Bangalore, including
one near the new airport, two in Kochi, and two in Chennai.
Read our earlier article
http://www.indianwineacademy.com/dm_114_item_5.asp
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