Mumbai : Zuri Group Global, the multinational conglomerate, has chalked out a multi-pronged expansion approach for its hotel chain, Zuri Hotels & Resorts, in India and abroad over the next five years.

The company is looking at an investment of Rs 1,200 crore in the hospitality sector to set up its own brands and take up management contracts as part of its strategy to increase the number of wholly-owned properties. The management contract model would allow Zuri to rapidly build a presence in more cities around the world, Ms Priti Chand, assistant vice-president, PR and corporate communications, said.

She told a visiting group of journalists from Kochi at Zuri Kumarakom Resort and Spa that the company intends to set up at least 10-15 projects under the management contract models in cities such as Hyderabad, Chennai, Mysore, Kochi, while the owned projects would be coming up at Bangalore, Nairobi and in West Asia in the next two years. The company is in advanced stage of discussions with various private owners for the management of these hotels. She said six acres of land adjacent to the new International Airport at Bangalore in Devanahalli had already been procured at an investment of Rs 200 crore. A 150-room 5-star luxury hotel would be completed by mid-2012.