According to a UNI report, Pune-based St Laurn Hotels and Resorts Groups will invest Rs 3,000 crore in 20 hospitality properties, mainly hotels and resorts, across India till 2015. During the launch of the group’s first five-star property ‘St Laurn Towers’, built at a cost of Rs 105 crore on Ashram Road, Ahmedabad, Lakshman Kariyaa, Managing Director, St Laurn Hotels and Resorts Groups, said, “Out of the Rs 3,000 crore future plan, the group will invest Rs 1,000 crore and the rest would be funded through debt equity. However, at present, we have no plan to go for public issue for next three years.”
Kariyaa said, “The group will continue its present strategy to develop all hospitality properties in Tier II and Tier III cities of the country as land costs takes handsome investment in metros like Delhi, Mumbai and Kolkata. These 20 hotels would have a total capacity of around 1,000 rooms and they will be in cities like Jaipur, Chandigarh, Pune and others.”
Disclosing future plan of the group, Kariyaa said, “We are coming-up with a five-star spa-resort in the pilgrim town of Shirdi at cost of Rs 82 crore. This project will mainly tap foreigner |