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Mumbai : Royal Orchid Hotels, which currently operates 13 hotels in seven cities across India, aims to double the number of hotels in the next three years. The Group also plans to have a room inventory of 1,800 by the end of March 2011. Currently, it has seven hotels under various stages of development.
Chender Baljee, Chairman and Managing Director, Royal Orchid Hotels said, "We plan to invest Rs 500 crore in the next two years, which will be a combination of debt and equity. We plan to raise an equity of Rs two crore from the market by the end of 2011."
Furthermore, Baljee added, "However, for the expansion, we have not divided the market into Tier-I, Tier-II and Tier-III. Depending upon the opportunity, we will go ahead with the new openings. We will be opening a leisure hotel in Shimla in the next two years and a property in Mussoorie is in the pipeline."
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