Indian American hotelier plans to invest in India
The Chatwals plan to invest Rs 45 billion by 2009 for setting up a chain of hotels.Updated: Mar 13, 2007 16:54 IST
Prominent Indian American hotelier Sant Singh Chatwal plans to invest Rs 45 billion (over $1 billion) in India by 2009 for setting up a chain of hotels, including a 7-star one.
"India is a virgin country in the hospitality sector. I would like to explore the potential here," Chatwal told reporters in New Delhi on Monday.
Each hotel will have a convention centre with a capacity for 2,000-3,000 people, he said.
US based Chatwal is the president and CEO of Hampshire Hotels and Resorts (HHR) and owns hotels in the US, Europe and Thailand. The group operates properties in Manhattan with a total of 2,500 rooms and also plans to open a five-star hotel in Times Square.
Chatwal said his group has acquired land in major Indian cities like Bangalore and Hyderabad in south India, and was in negotiations for property in Mumbai.
Chatwal is a former Indian Air Force pilot who migrated to the US in the 1980s and started the Bombay Palace chain of restaurants.
Last year, Chatwal hosted an extravagant wedding in India for his son Vikram. The wedding including a week of festivities spread out over three Indian cities.
First Published: Mar 13, 2007 16:35 IST