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Mumbai June 20 Pride Group on Wedneday launched The Pride Hotel, first of its premium boutique hotels, in Chennai. "We plan to develop hotels in 11 cities including Mumbai, Hyderabad and Cochin," said Mr S.P. Jain, Chairman, Pride Group of Hotels.

The group's fifth hotel is under construction in Bangalore and would be operational by the year end.

Pride Group, which purchased the Chennai property on Poonamalle High Road for Rs 35 crore in 2004, plans to invest Rs 300 crore in next two years and construct 11 hotels with 1,150 rooms across the country by 2011.

"We are scouting for a property in Mumbai near the international airport," said Mr Satyan Jain, CEO of Pride Group.

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