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New Delhi: The Lalit, a Delhi-based hospitality group, is planning to enter the middle to economy hotels segment by investing Rs 1500 crore.
The funds for expansion will be managed through internal accruals and debt. The group is likely to launch a new brand for these hotels. Initially, The Lalit proposes to set up 25 hotels at Amritsar, Ludhiana in Punjab, Faridabad (Haryana) and Ahmedabad, Surat and Mundra in Gujarat within four years. Each hotel is expected to have 50-75 rooms.
In the meantime, the group is expanding its five-star hotels chain by developing ten new properties, two of which are to come up this fiscal at Bekal, Kerala and Jaipur, Rajasthan while two hotels are being set up in Dubai, UAE and Koh Samui, Thailand and are likely to open within three years.
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