Hampshire Hotels to invest Rs 5000 cr in India
New York-based Hampshire Hotels has proposed to invest Rs 5,000 crore to build hotels across India in a span of four years.business Updated: Jan 05, 2008 16:23 IST
New York-based Hampshire Hotels and Resorts, owned by NRI Sant Chatwal, has proposed to invest Rs 5,000 crore to build hotels across India in a span of four years.
"We would pump in Rs 5,000 crore in Indian hospitality sector during next four years for building up new chain of hotels," Hampshire Hotels and Resorts Chairman and CEO Sant Chatwal told reporters in Chandigarh on Saturday.
Out of total investment, a sum of Rs 1,000 to 2,000 crore has been earmarked by the company for setting up hotel in Punjab, he further said.
Chatwal, an Non-Resident Indian, was here to attend a NRI Conclave organised by Punjab government on Saturday.
Major portion of the proposed investment would be dedicated for building up new hotels in southern part of India. "We would set up new hotels under the brand of Hampshire Plaza and Dreams Hotels in Karnataka, Andhra Pradesh, Kerala and Chennai," he said.
"Out of these hotel projects, one hotel at Hyderabad is being set up at an investment of Rs 125 crore and another hotel is also being constructed in Kochi with an outlay of Rs 200 crore," he said.
On his investment plans in Punjab -- Chatwal, who hails from Faridkot district of the state, said: "I have proposed the Punjab government for converting the Gobindgarh Fort in Amritsar to a seven star heritage hotel cum museum which would showcase the history of the Punjabi culture and tradition".
When asked about the response of the state government, he said that state had shown keen interest in his proposal. But he further cautioned, "If things did not get materialised here, then my investment would flow to other states of the country."