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| Lords Inn to invest Rs 100cr in hospitality |
| Vimukt Dave / Mumbai/ Rajkot Jun 27, 2009, 00:00 IST |
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Hospitality player Lords Inn is planning to invest over Rs 100 crore over the next three years to expand its business. The company, which operates in three and four star categories, is also looking at joint ventures and acquisitions.
“We will invest over Rs 100 crore in hospitality across India to open 10 new hotels in three years. Currently, we are eyeing on cities like Bangalore, Jaipur and Delhi,” said PR Bansal, chairman and managing director of Lords Inn.
Lords Inn provides management services to hotels in three and four star categories in Tier II and III cities. “We are also looking at metros now. In Gujarat, we have six hotels in Rajkot, Ankleshwar, Dahej, Surat, Vadodara, and Gandhidham and are planning to open in Ahmedabad soon,” added Bansal.
According to Romesh Koul, chief executive officer of Lords Inn, “Gujarat is very vibrant and we don't want to miss the opportunities, that's why we have entered first in Gujarat.”
On slowdown, Koul said the impact has been observed only in higher star categories while middle category hotels are doing pretty well. Although the main focus of the group is business segment, it also has plans for the leisure section and is looking forward to take its brand to holiday destinations like Goa.
On the group’s future plans and strategies, Koul said, “We are focusing on mix-use projects. Our Indore and Jaipur properties will be based on our mix-use projects. Moreover, apart from corporate hotels, we are also looking at holiday destinations to provide substantial growth for the company.”
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