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Article: India : Park Hotels to add four new hotels.
- Article from:
- TendersInfo
- Article date:
- August 10, 2009
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Byline: pinto03
The Park Hotels, Apeejay Surrendra Group's hospitality arm, is likely to invest Rs 1,000 crore in developing four new hotels in India.
The company plans to set up the proposed hotels in Hyderabad (Andhra Pradesh), Pune (Maharashtra), Jaipur (Rajasthan) and Kolkata (West Bengal) over the next three-four years.
The new hotel in Kolkata is expected to be its second hotel in the city. The investment plan is likely to be funded through internal accruals and funds from its financial partner Credit Suisse, which had acquired 15 per cent stake in the company in 2007.
Of the total investment, the company is likely to invest Rs ...