India hotels to invest in budget brand

22nd Mar 2006

Indian Hotels Company will invest Rs 1 billion ($22 million) in the next fiscal year to set up budget hotels across the country.The firm will also bid for Indian Railways Catering and Tourism Corporation’s (IRCTC) tender for operating hotels.

“We will be offering one new hotel for every six weeks in the next one year,” Indian Hotels Company Ltd Managing Director and CEO Raymond Bickson told reporters, while announcing the renaming of its smart basic hotels project, earlier known as ‘indiOne’ to ‘Ginger’.

Bickson said the investment for a hotel with 100 rooms would be about Rs 100 million, excluding land costs.

By the the end of 2006 Ginger hotels would be opened in Bhubaneswar, Pune, Mysore, Thiruvananthapuram, Durgapur and Goa. Work would also commence on hotels in Agartala, Tirupur, Pondicherry and Nasik within the next couple of months, he added.



Recommended for you

Follow Breaking Travel News

Travel Events Calendar

Media Partnerships

Global Restaurant Investment ForumThe Hospitality & Tourism SummitCATHIC
ITB AsiaChina Outbound Travel & Tourism MarketThe Travel Marketing Store
Serviced Apartment SummitWorld Travel MarketIMEX
AHICWTTCRoutes Online
UBM Aviation