Royal Orchid Hotels to Expand with Further Investments of Rs. 500 Crore

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Royal Orchid Hotels, a famous brand name in the hospitality industry plans to invest further Rs. 500 crore in the next two years in the Indian Hotel Industry. Chender Baljee, Chairman and Managing Director, Royal Orchid Hotels said, "We plan to invest Rs 500 crore in the next two years, which will be a combination of debt and equity. We plan to raise an equity of Rs two crore from the market by the end of 2011."


The company has 13 hotels in seven cities across India and plans to double the number of hotels in India under its group in the next three years. At present the group has seven hotels under various stages of development. Royal Orchid Hotels will open a leisure hotel in Shimla in the next two years and a property in Mussorie is also under consideration. The group has even planned to increase the hotel room inventory to 1800 by March 2011.

Even as the expansion is underway the Royal Orchid Hotels Group has still not divided its target markets in to the three main hotel classes-Tier 1, Tier 2 and Tier 3.


http://www.rang7.com/news/hotel/royal-orchid-hotels-expand-with-further-investments-rs.-500-crore.-581.htm

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