Hiranandani to invest Rs 100 cr to expand Rodas hotel venture

Upbeat about the growth prospects of the hospitality sector, realty major Hiranandani Group today revealed its plans to invest around Rs 100 crore in the expansion of its hotel venture 'Rodas'.

"We are very upbeat on the hospitality sector and plan to expand the chain across the country. This year we are launching a five-star 160 room hotel at an investment of Rs 100 crore," the Group's Chairman and Managing Director Niranjan Hiranandani told PTI.

The group currently operates a 32-room designer business ecotel hotel in Powai and plans to launch its second property of 160 rooms this year.

"Rodas is a designer ecotel offering impeccable facilities for relaxation, leisure and business support, along with every personalised service. We want to be a niche player in this segment," Hiranandani said.

 While refusing to disclose further details on the subject, he discussed another project 23 Marina, a 90-storey residential tower located in one million sq ft in Dubai. 23 Marina is scheduled for completion by December this year, he said.

Besides, Hiranandani said, the company has acquired a 270 room property in Dubai and will renovate it into a five-star hotel by 2013.