Taj Group to invest Rs 1,000 cr for 4 new hotels

Taj Group of Hotels will invest about Rs 1,000 crore (Rs 10 billion) for building four hotels in Bangalore and has submitted an Expression of Interest to the consortium, which is modernising the Delhi airport, to build a world-class hotel in the capital city.

"We will invest around Rs 1,000 crore (Rs 10 billion) for building four hotels in Bangalore, of which two are already under construction, while the ones in Devanahalli and Yashwantpur will take three years to complete," Indian Hotels Private Limited, owners of the Taj Hotels, Vice-President (Development) Sumit Guha told PTI.

He said the company has also submitted an EoI for building a top-class hotel in the vicinity of the airport. They have submitted the EoI to the Delhi Airport International Limited and are awaiting their nod. Besides the company has been allocated a site at Greater Noida for building a hotel, while it is keen on entering into a management contract for a hotel in Gurgaon.

The Group was also looking to enter hotel business overseas like Maldives, Mauritius, Colombo, Boston and Sydney, he said. Guha said the Group was also planning to explore seven more locations in Mumbai and take its total room capacity to 2,000 in the commercial capital in the next five years.