NRI Real Estate and Property Investment in India
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UKs Hotel Chain Premier Inn Plans To Set Up 80 Hotels In India
Tuesday, August 11, 2009

United Kingdom’s hotel chain Premier Inn is planning to open about 80 hotels in the country in the next 10 years. The hotel chain will invest Rs 4,000 crore to build 3-star hotels at various locations in the country with a combined capacity of 9,700 rooms.

“We have planned 18 hotels in the first five years and 80 in 10 years with a total investment of Rs 3500-4000 crore,” Premier Inn India Managing Director Aly Shariff told media. He said the company has formed a joint venture with real estate player Emaar MGF, which will bring in the initial investment. “Our JV partner will bring in the investment initially, However, we will raise money through debt later,” Shariff said. The hotel chain would begin with the metros and gradually expand to cover leisure destinations as well.


 

 

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