India-based hotel chain Royal Orchid is to spend Rs3bn ($68m) on opening six new hotels across India by December 2011.
The new hotels will add 900 rooms to the company’s portfolio of 1,300 rooms.
The investment will be an equal mix of debt and equity, and Royal Orchid has already approved the raising of Rs1bn ($22m) through institutional placement.
The new hotels will be opened in cities such as Jaipur, Hyderabad and National Capital Region.
The company operates 16 hotels in India.