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R. Ravikumar

Chennai, March 19 The Mumbai-based Mirah Group is entering Tamil Nadu with a three-star resort at Sriperumbudur, in the outskirts of Chennai.

The company recently bought a property developed by the Chennai-based ‘serviced apartments’ chain Star City, for the purpose.

The resort has 32 apartments spread over two acres with facilities such as swimming pool, restaurant, tennis court, small auditorium and facilities for indoor games.

While not wanting to disclose the value of the property, Mr Gaurav Goenka, Managing Director of the Mirah Group, said the company is now upgrading the property at an investment of about Rs 25 crore.

The company currently has four 3-star properties under the brand ‘Citrus’, with the theme line ‘The freshotel’ in Lonavala, Goa, Mahabaleshwar and Alleppey (Kerala).

“Having earmarked Rs 200 crore for expanding our footprint across the country, our plan is to end this calendar year with at least 10 hotels. We are now on the lookout for existing hotel properties at Puducherry, Hyderabad, Ahmedabad and Jaipur,” he said.

According to him, the company is also keen on setting up hotels in Chennai and Mahabalipuram.

Besides, the Rs 1,500-crore group is also keen on expanding its restaurant chain branded Rajdhani Thali.

The chain currently has 52 outlets in 16 cities including Delhi, Mumbai, Kolkata, Bangalore, Hyderabad, Indore, Nagpur and Surat. It is now targeting Chennai.

“We are planning to open our first restaurant in the upcoming Ampa Mall in the city. The talks are in advanced stages to acquire space there,” said Mr Goenka.

Asked about the funding, he said the Rs 200-crore would be funded through internal accruals and debt.

“We may, however, seek private equity investment once we consolidate our presence in the hotel industry.”

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