Rajasthan-based MRS Hospitality today said it will invest Rs 250 crore to double its room capacity in the next four years by adding nearly 200 keys.
"We will be investing around Rs 250 crore in the next four years to add close to 200 rooms as part of our expansion plans," MRS Hospitality Managing Director Manvendra Singh Shekhawat told PTI.
The company has two operational properties, one at Bikaner and another in Jaisalmer. Another new property will be opened by next year taking the total room capacity to 200 rooms, he added.
As part of four-year horizon project, the company is in talks to acquire a fort and a palace to convert into heritage hotels, while a new property would come up either at Jaipur or Udaipur in the next three to four years.
"We already have land banks available at Jaipur and Udaipur and we are also looking at a fort and a palace," Shekhawat said, without divulging the locations of the latter two planned properties.
When asked as to how the company was aiming to fund the expansion, Shekhawat said: "It will be done by our personal equity. We will also be looking at a joint venture on a project basis."