The Lalit Suri Hospitality group is foraying into the European market with its maiden property in London.
The company has acquired a heritage building called St Olave's near Tower Bridge in central London, which was being used as a grammar school, for £15 million and will be investing another £12-13 million in restoring and developing it. The 70-room boutique hotel property is expected to open by end-2014.
"We are delighted to announce our foray into the European market with a hotel in London," said Jyotsna Suri, chairperson and managing director of The Lalit Suri Hospitality Group. The Lalit London would be a part of the larger real estate development of the One Tower Bridge by Berkeley Homes. "The property's restoration work will start in early 2013 and it will be operational by the end of 2014. Experts from their respective fields have been commissioned for the project," she added. The company currently operates nine luxury hotels and resorts in India. The hotel in London will be its first international hotel after which it plans to open hotels in Thailand and Dubai. In India, the hotel company plans to invest Rs 1,200 crore to set up hotels over the next three years. It will also invest in opening budget hotels under the Lalit Traveller brand.
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"We are delighted to announce our foray into the European market with a hotel in London," said Jyotsna Suri, chairperson and managing director of The Lalit Suri Hospitality Group. The Lalit London would be a part of the larger real estate development of the One Tower Bridge by Berkeley Homes. "The property's restoration work will start in early 2013 and it will be operational by the end of 2014. Experts from their respective fields have been commissioned for the project," she added. The company currently operates nine luxury hotels and resorts in India. The hotel in London will be its first international hotel after which it plans to open hotels in Thailand and Dubai. In India, the hotel company plans to invest Rs 1,200 crore to set up hotels over the next three years. It will also invest in opening budget hotels under the Lalit Traveller brand.
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