Keys Hotels, the mid-market brand of Berggruen Hotels, today said it is eyeing 50 properties by FY16, with a total investment of Rs 610 crore.
"We have 11 properties at present and 16 more are under development, taking the total to 27. We are also in talks with another 65 potential clients for property management across the country.
We have lined up a total investment of Rs 610 crore for the expansion, which is a mix of equity and debt," Berggruen Hotels Managing Director and CEO Sanjay Sethi told PTI here. Of the total investment, Rs 386 crore has already been deployed, he added. The company signed six new properties in Mumbai, Pune, Amritsar, Goa, Alibaug and Noida and is actively pursuing more opportunities across the country. Of the 27 properties, 13 are owned and 14 are under managed hotels, he added. Keys Hotels, which has sub brands like Keys Resorts and Keys Apartments, currently has 1,078 rooms that will be increased to 2,638 rooms by FY14, he said. "At present we have 1,078 rooms and another 1,558 rooms are under development. So, by FY14 we will have a total of 2,638 rooms," he explained. The company, which has 1,100 employees at present, is planning to take the total workforce to 4,000 by FY16, in line with the expansion, Sethi said.
Source
We have lined up a total investment of Rs 610 crore for the expansion, which is a mix of equity and debt," Berggruen Hotels Managing Director and CEO Sanjay Sethi told PTI here. Of the total investment, Rs 386 crore has already been deployed, he added. The company signed six new properties in Mumbai, Pune, Amritsar, Goa, Alibaug and Noida and is actively pursuing more opportunities across the country. Of the 27 properties, 13 are owned and 14 are under managed hotels, he added. Keys Hotels, which has sub brands like Keys Resorts and Keys Apartments, currently has 1,078 rooms that will be increased to 2,638 rooms by FY14, he said. "At present we have 1,078 rooms and another 1,558 rooms are under development. So, by FY14 we will have a total of 2,638 rooms," he explained. The company, which has 1,100 employees at present, is planning to take the total workforce to 4,000 by FY16, in line with the expansion, Sethi said.
Source