Berggruen Hotels Unveils India Expansion Plans

24th July 2011 (Last Updated July 24th, 2011 18:30)

Berggruen Hotels, a hospitality chain funded by a US-based private equity firm, is to invest Rs6bn ($135m) in creating 30 new properties across India by 2015. Berggruen Hotels, which operates properties under the mid-market 'Keys' brand, currently manages ten hotels with 937 rooms in t

Berggruen Hotels, a hospitality chain funded by a US-based private equity firm, is to invest Rs6bn ($135m) in creating 30 new properties across India by 2015.

Berggruen Hotels, which operates properties under the mid-market ‘Keys’ brand, currently manages ten hotels with 937 rooms in the country.

The company has already deployed Rs2.7bn in equity and an additional Rs1.6bn in debt.

Berggruen Hotels will also take over the management of Cama Hotel in Ahmedabad, India.