Financial Daily from THE HINDU group of publications
Thursday, Mar 23, 2006
Financial Daily from THE HINDU group of publications Thursday, Mar 23, 2006 |
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Marketing
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Outlook Indian Hotels plans more budget hotels Our Bureau
New Delhi , March 22 Indian Hotels Company Ltd today said it would invest Rs 100 crore in the next fiscal to set up budget hotels across the country and bid for Indian Railways Catering and Tourism Corporation's (IRCTC) tender for operating hotels. "We will be offering one new hotel for every six weeks in the next one year,'' the Indian Hotels Company's Managing Director and CEO, Mr Raymond Bickson, told newspersons here. He was here to announce the renaming of the group's smart basic hotels project, earlier known as `IndiOne' to `Ginger.' Mr Bickson said the investment, excluding land costs, for a hotel would be about Rs 10 crore. By the end of 2006, Ginger hotels would be opened in Bhubaneswar, Pune, Mysore, Thiruvananthapuram, Durgapur and Goa. Work would also commence in Agartala, Tirupur, Pondicherry and Nasik soon. He also said the hospitality major would launch service apartments projects in Delhi, Kolkata, Hyderabad and Chennai. "There has been great interest from emerging markets such as China, South Africa and neighbouring countries. We will definitely consider that option once we establish ourselves in the domestic market," Mr Bickson said.
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