Financial Daily from THE HINDU group of publications
Saturday, May 21, 2005
Financial Daily from THE HINDU group of publications Saturday, May 21, 2005 |
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Corporate
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Announcements Leela Group keen on hotel property in Delhi Our Bureau
New Delhi , May 20 THE Leela Palaces and Resorts, which is to set up hotels in Chennai and Hyderabad, is also keen to have a property in the national Capital, its President, Mr Peter J. Leitgeb, said here on Friday. . "We are not concerned about competition in Delhi. We need to have a presence in Delhi to support properties in other cities," Mr Leitgeb said. The Leela Group is also looking at the possibility of acquiring an existing beach resort or plot being offered by the Kerala Government at the Bekal tourism zone. The chain has already acquired a property at Adyar beach in Chennai and identified a prime location in Banjara hills in Hyderabad to build hotels. The work on the Rs 320-crore Chennai hotel will begin in August this year and the project is expected to be commissioned by early 2008. Similarly, the 300-room hotel in Hyderabad is expected to become operational by early 2008. In addition, a new palace hotel is also coming up in Udaipur. The Group's hotel in Mumbai is undergoing a Rs 90-crore refurbishment programmewhile 120 rooms are being added to its existing property in Bangalore.
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