May 12, 2010 : According to an IANS report, the Lalit Suri Hospitality Group plans to invest US $500 million (INR2200 crore) towards expansion, and is also looking to actively participate in public-private-partnership projects to promote tourism in the country.A statement to us by Jyotsna Suri’s office - Chairperson and Managing Director, Lalit Suri Hospitality Group - said that: “The Lalit Suri Hospitality Group is growing at a steady pace with the group investing nearly INR2200 crore towards expansion.
In the luxury segment, we have upcoming properties in centers such as Kolkata, Jaipur, Chandigarh, Ahmedabad, Amritsar, Dehradun and Noida over the next two years.
The properties in Chandigarh and Jaipur are almost ready and will be operational by early next year. We have already announced of our plans to venture into mid-segment hotels and have planned 25-hotels with an investment of INR800 crore by 2014. We shall fund our expansions through a mix of internal accruals and debt.”
The Group is looking to set up hotels in cities like Surat and Ludhiana, each of which will be between 50-75 keys. Currently, under the brand ‘The Lalit’, the Group has six properties, while the Goa and Mumbai hotels operate under a co-branding with the InterContinental. It may be recalled that the Lalit Suri Group earlier represented IHG in India, prior to a rebranding exercise in 2008.
The IANS report further quotes Suri as having stated that The Lalit Grand Fort Dubai and the Lalit Resort and Spa in Koh Samui, Thailand, will be ready for guests by 2011.
On public-private partnerships, she said that the Group is keen on such projects, which they are currently pursuing with the government of Rajasthan, but are also looking to replicate with other states as well as at the Centre level.
Sources Hotelierindia.com
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