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Duet India Hotels plans major expansion, to raise up to $100 m

Hospitality chain Duet India Hotels has drawn up major expansion plans to increase its chain of hotels from nine to 25 within the next three years.
Joint venture

Launching its latest property in the IT hub of Hyderabad in partnership with InterContinental Hotel Group, the company hinted at moves to raise up to $100 million (about ₹630 crore) to part-fund its ongoing expansion.

The 232-room property has 39 suites and comes packed with conferencing and other facilities required for a busy business traveller.

This is the third property that IHG has set up in India in partnership with Duet India Hotels, its joint venture partner and expects to add one more later this year in Chennai at the Old Mahabalipuram Road.