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| Shervani to expand via franchisees |
| Press Trust of India / New Delhi Jan 29, 2010, 16:32 IST |
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Shervani Hospitalities today said it is looking to opt for the franchisee route to expand its presence and plans to take the total number of hotels to around 13 across the country in next three years.
"We would like to expand our presence in the country. For that we are looking at the franchisee route as it is one of the best ways to do it," Shervani Hospitalities Managing Director Saeed Shervani told reporters here.
The city-based hospitality chain, which currently runs three hotels in the country, said it is looking at opening five to six hotels in the next three years, primarily in the Northern region.
"We are scouting for locations. We would like to open 5-6 hotels in the next three years. Most of them are in Northern India. However, if there is opportunity in the South we will definitely open there too," he said.
He, however, did not disclose the kind of investment the company is likely to make for the expansion plan.
Besides, the group is also looking to add 4-5 hotels in the next 2-3 years through the franchises. However, Shervani said due to the slowdown in the real estate sector, the overall business has been impacted.
"As room rates went down, our business also got impacted. Because of the falling tourist arrivals due to the downturn, room occupancy also went down," he said.
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