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HindustanTimes Wed,03 Sep 2014

Park to invest Rs.1,200 cr in four new hotels

HT Correspondent, Hindustan Times  New Delhi, March 19, 2013
First Published: 21:33 IST(19/3/2013) | Last Updated: 21:34 IST(19/3/2013)

Hospitality chain The Park Hotels of the Apeejay Surrendra Group is set to add four more hotels to its current portfolio of 12 boutique hotels across India.

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These properties will add over 800 new rooms to the current total of over 1,200 rooms.

“We plan to invest Rs.1,200 crore over the next 4-5 years to set up four new properties,” said Priya Paul, chairperson, Apeejay Surrendra Park Hotels.

“Currently, we are developing a hotel at Cochin, which will be operational by the middle of this year. Three more properties at Pune, Kolkata and Jaipur are in the pipeline,” she said while unveiling a new brand identity and logo of the chain.

Out of the total investment, the major pie will be for Kolkata-based hotel at Rs.500 crore, followed by Pune at Rs.350 crore.

The company will invest about Rs.100 crore to set up the Jaipur property and the rest will be for the Cochin hotel.

The company is also planning to expand its footprints in global markets.

“We would like to expand internationally. In other four to five years time, we will be actively looking at it,” Paul added.

Meanwhile, to support the growing properties, the hotel chain will hire over 1,500 people.

“Currently, our total headcount is 2,500, which I see jumping to over 4000 by next five years or so,” Paul said.


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