A budget hotel chain, they seek to open 5-6 hotels by the year end.
"These will be a completely new breed of hotels designed keeping in mind the Asian customers' requirement of a value-for-money proposition. The cost per key will depend on the location, in the range of $30,000 to $100,000 i.e. Rs 14 lakh to Rs 45 lakh including land cost," Luthria said. He said that the rooms will carry a price tag that will be 20-25% lower than that offered by competitors.
In the coming three years, Apodis will invest about $200 million for 20 properties with a debt equity ratio of 60:40. The company is planning around 2,000 rooms in cities such as Mumbai and Delhi and around 1,000 rooms in Hyderabad, Chennai and Bangalore.
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