"We will be investing ₹160 crore to add 9 properties across the country by end of 2021. Apart from this, we will also be adding 70 rooms in our existing property in Naukuchiatal during this period," Leisure Hotels Group Director Vibhas Prasad told PTI.
Out of the upcoming properties, three will be managed by the group while it will own and operate the rest six, he added.
"The new properties will be in Greater Noida, Dehradun, Haridwar, Bhimtal, Manali, Rishikesh, Pench and Kanha among others," he said.
Asked how the group plans to fund the expansion, he said it will be a mix of debt and internal accruals.
"Our expenditure is mainly on the properties that we own and operate," Prasad said.
Regarding its business model, Prasad said: "We are transitioning from being an asset owning company to an 'asset right' company."