Hospitality chain Hotel Leelaventure is considering to open five new properties to strengthen its presence across the country.
The company, which currently has seven hotels across India, is considering new properties at Agra, Ashtamudi, Jaipur, Bangalore and Noida. Besides, its 326-room new property in Chennai is expected to be completed by the third quarter of the current financial year.
In an investor presentation,
the company said it is considering expansion through a mix of company-owned and managed properties.
It, however, did not specify the investments required for the new properties nor the time line for their operationalisation.
Elaborating its plans, Hotel Leelaventure said it is considering to build a 5-Star deluxe hotel at Agra with a co- investor with a room capacity of 110, all of which will face the Taj Mahal.
The hospitality chain is also considering to set up a luxury resort of 15 floating villas and 25 other villas totalling to 40 rooms with a co-investor at Ashtamudi in Kerala.
The company said for the new Jaipur property, it has signed a management contract. It will be a a 58 villa resort and development of the project is being undertaken.
It further said that for Bangalore, a letter of intent (LoI) has been signed with Bharatiya Group which is developing a multi-use complex in a SEZ of 120 acres.