Alchemist Hotels & Resorts (AHR), the hospitality arm of Chandigarh-based Alchemist Ltd, plans to launch its first property, a mid-market hotel in Kufri, a hill station near Shimla, Himachal Pradesh by April 2011. However, at the same location, AHR is coming up with a luxury hotel which will be operational by April 2012. Both these properties will have a total room inventory of 100.
Besides, the company plans to operate three hotels in Pushkar (Rajasthan), Chandigarh and Ropar by March 2013. For the same, the company has acquired lands at different locations and the properties are at various stages of development. These upcoming hotels will cater to mid-market and luxury segments. The approximate amount of investment for these projects is Rs 500 crore. In addition, the company is in negotiations for setting up properties in National Capital Region (NCR), Mumbai and Goa.
Speaking exclusively with Hospitality Biz, Kushagra Nagrath, COO, Hotels & Resorts, Alchemist Hotels & Resorts said,
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