GRT Hotels to invest Rs 350 crore

Radisson Hotel  GRT is planning to double its rooms to 1,500 with an investment of around Rs 350 crore by 2015.

“Our plan is to tap B-cities in the state, including Coimbatore, Madurai, Thanjavaur, Kumbakonam and Tuticorin. All the proposed expansion plan will take place in these cities,” said Vikram  Cotah, vice president, Radisson Hotel  GRT. The new properties will cater to both leisure and business travelers.

The hotel chain operates around 650 rooms across Chennai, Mahabalipuram, Yercaud, Madurai, Kanchipuram in Tamil Nadu and one in the Union territory of Puducherry. The company operates hotels in four and five star categories.

“The proposed investment will be funded through internal accruals and debt,” said Cotah. The company has acquired 16 grounds close to its existing property near the Chennai airport, where it is planning to add another 70 rooms.

He added, “We are trying to consolidate and want to build our brand at one place before going to other destinations.”