Hotel Leelaventure plans $500 mn capex by 2011

Hotel Leelaventure plans $500 mn capex by 2011
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First Published: Sun, Jul 20 2008. 05 16 PM IST
Updated: Sun, Jul 20 2008. 05 16 PM IST
PTI
Mumbai: Hotel Leelaventure plans to invest $500 million to expand its pan-India presence in key cities by 2011.
It is setting up new hotels at Gurgaon, Udaipur, Chennai and New Delhi over the next three years, apart from acquiring land in Agra and Jaipur, a top company official said here.
“Our room capacity will go up from the present 1,100 to 2,400 by FY 12 after the Leela Palaces, Kempinski at Udaipur, Chennai, New Delhi and Hyderabad and the Leela, Kempinski at Gurgaon and Pune becomes operational. The cost of the project is estimated at $500 million,” Hotel Leelaventure’s president, Onno Poortier, told PTI.
The hosplitality company owns and operates The Leela Palaces, hotels and resorts in Mumbai, Bangalore, Goa and in Kovalam (Kerala).
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First Published: Sun, Jul 20 2008. 05 16 PM IST