NRI Real Estate and Property Investment in India
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Choice Hotels to open 20 new hotels in two years
Monday, April 28, 2008

Budget hotel chain Choice Hotels India plans to open 20 new hotels adding about 1500 rooms across India, with an estimated budget of around Rs 600 crore in the next two years.

The hotel chain has signed management contracts with real estate developers for opening 20 hotels across the country, taking the total to 45.

"Recently we have signed agreements for another 20 hotels, which are presently under various stages of construction and will become operational by the end of 2010," Choice Hotels India (CHI) Chief Executive Officer Vilas Pawar told reporters.

When asked about investments Pawar said, the property development cost would be borne by various real estate partners but the overall project cost could be about Rs 600 crore.

"As par the agreement, we would operate the hotels constructed by our partners," Pawar said.

CHI is also increasing its manpower to 4,500 from present 2,500 as the total number of rooms managed by it would also reach up to 4,000 in the next two years.

Out of the proposed 20 hotels in the future, the company would operate three in the National Capital Region and five in Punjab.

The company currently operates four brands of hotels: Clarions, Quality, Comfort and Sleep in India in the three-star category.

CHI is part of Choice Hotels International, leading lodging franchiser globally with over 5,000 hotels worldwide.

 

 

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