Parsvnath to venture into budget hotel segment

8th November 2011 (Last Updated November 8th, 2011 18:30)

Indian realty firm Parsvnath Developers has joined forces with Choice Hotels International to offer 20-25 budget properties across India.

Indian realty firm Parsvnath Developers has joined forces with Choice Hotels International to offer 20-25 budget properties across India.

Parsvnath Hotels, the company’s wholly owned subsidiary, has partnered with various hotel owners to refurbish properties and offer them to Choice Hotels International to manage.

Parsvnath Developers chairman Pradeep Jain said that it will launch the first hotel property in Delhi this month, and that it will be managed by Choice Hotels.

The company also plans to offer up to seven more budget hotels by the end of March 2012, and plans to inaugurate ten properties every quarter, reports The Indian Express.