Lalit Suri Hospitality Group today said it would invest nearly Rs 2,200 crore for expansion in luxury and mid-segment hotels in next five years both in India and abroad.
The company that plans to have 45 properties in all by 2017, said it will have its first international hotel operational in London by 2014.
"The road map for us is clearly defined in India and we have not even touched the tip of the iceberg that is there in the travel, tourism and hospitality sector in the country.
Our expansions will focus in India, although the London property will be up and running by 2014," Lalit Suri Hospitality Group Chairperson Jyotsna Suri told reporters here. Asked about the expansion plans of the group, she said: "Over the next five years we will be investing Rs 2,198 crore on development of new hotel properties, including 25 mid- segment hotels in India". The group would have a total room inventory of 3,600 rooms with 45 properties in the next five years, up from 1,796 rooms from 17 properties at present. On the funding of the investment, she said it would be through a mix of internal accruals and debt. Commenting on the international expansion plans of the group, Suri said: "Apart from the London and those planned in Dubai and Thailand, we are not really looking to add more properties". The group will be investing a total of 28 million pounds on the London property.
Our expansions will focus in India, although the London property will be up and running by 2014," Lalit Suri Hospitality Group Chairperson Jyotsna Suri told reporters here. Asked about the expansion plans of the group, she said: "Over the next five years we will be investing Rs 2,198 crore on development of new hotel properties, including 25 mid- segment hotels in India". The group would have a total room inventory of 3,600 rooms with 45 properties in the next five years, up from 1,796 rooms from 17 properties at present. On the funding of the investment, she said it would be through a mix of internal accruals and debt. Commenting on the international expansion plans of the group, Suri said: "Apart from the London and those planned in Dubai and Thailand, we are not really looking to add more properties". The group will be investing a total of 28 million pounds on the London property.