Royal Orchid plan


Calcutta, Dec. 25: Bangalore-based Royal Orchid Hotels will expand its footprint in India and abroad and plans to invest about Rs 300 crore next fiscal.

At present, the hotel group operates 15 properties in eight cities. It is adding nine hotels to its portfolio at locations that include Jaipur, Hyderabad, Baroda, Mumbai and Shimoga.

“Of the nine properties, the ones at Baroda and Surat are to be privately owned and the rest are to be leased or managed,” Chender Baljee, managing director of Royal Orchid Hotels, said.

Royal Orchid is also planning to expand in tier II and tier III cities such as Jamshedpur and Sikkim.

“We are inspecting all potential investment opportunities in the country,” said Baljee.

The group will start work on a new project in Dar Es Salaam, the capital city of Tanzania.

Most of the funding will be done in the debt-equity ratio of 1:1.5.

“We have acquired about 30 acres in Tanzania and are looking to expand further,” Baljee said.

source; telegraph