Hyderabad, Sept. 15
The Bangalore-based Royal Orchid Hotels Ltd (ROHL), which has 500 rooms in Bangalore and Mysore, has prepared a Rs 500-crore expansion plan to set up star hotels in major cities across India in the next two years.
The hotels would come up in Delhi, Mumbai, Chennai, Bangalore, Kolkata, Pune, Jaipur and Hyderabad.
Mr Chender Baljee, Chairman and Managing Director, who was in the city to monitor the Hyderabad project, said the immediate focus would be on opening hotels in Jaipur, Pune and Hyderabad in the next eight months.
It would have another hotel in Mysore this year.
"We have expertise in running all star category hotels. Our expansion plan includes hotels in all categories," he said.
The company, which offers special packages for corporates, had plans to enter into agreements with hospital chains.
He said the company was flexible in taking up these projects. "We might own some, go for leased out properties or forge joint ventures," he said.
The company registered a profit of Rs 23 crore on a turnover of Rs 85 crore last year.
"We currently have Rs 140 crore, including the Rs 112 crore we raised from the public. We are confident that we could raise the funds for expansion through internal accruals and banks in the next two years," he said.