Indian Hospitality Group to Invest $533m

30th August 2010 (Last Updated August 30th, 2010 18:30)

Lalit Suri Hospitality Group in India plans to invest Rs25bn ($533m) to expand its luxury and mid-segment hotel properties by 2014. The group has earmarked Rs20bn ($426m) to invest in luxury hotels and Rs5bn ($107m) in mid-segment hotels. The group said it will add new prop

Lalit Suri Hospitality Group in India plans to invest Rs25bn ($533m) to expand its luxury and mid-segment hotel properties by 2014.

The group has earmarked Rs20bn ($426m) to invest in luxury hotels and Rs5bn ($107m) in mid-segment hotels.

The group said it will add new properties in luxury segments in the cities of Ahmedabad, Chandigarh, Jaipur and Kochi, and plans to open a hotel in Thailand by 2014.

It will also add 613 rooms in mid-segment hotels by constructing eight hotels, which are at various stages of construction, in different Indian cities, according to the Press Trust of India.