DLF Universal is preparing for a US$2-2.5 billion entry into the hospitality sector. The company, a real estate company based in New Delhi, has acquired 24 sites all over the country and is negotiating for 15-20 more, reports the Business Standard. To put the numbers in the right perspective, Indian Hotels, which runs the Taj Group, owns 57 properties across India ; East India Hotels (Oberoi Group) has 18, and ITC Welcomgroup has 14.

DLF will raise US$700-800 million as equity; the rest of the investment will be raised as debt. A joint venture with a leading international hotel chain is also on the cards. Of the 24 sites that DLF acquired, it plans to build 15 four-star business hotels, five upscale business hotels and three luxury hotels.

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