Offering more accommodation alternatives for both domestic tourists and international travellers taking flights to India, The Lalit, an India-based luxury hotel chain, has decided to open multiple properties in the country in coming three years.
Business and holiday makers taking flights to India will soon be able to enjoy the impressive services of The Lalit, an India-based luxury hotel chain, in different parts of the country. Currently, the hotel chain has around a dozen properties in India, mostly in top destinations that lure tourists on holiday breaks.
The 25-year-old hotel chain has made an announcement to invest INR1,200 crore to increase its business in the next three years. The luxury brand will also enter the mid-level segment, said Indian media reports.
Apart from offering options in mid-level segment to domestic tourists as well as budget travel buffs taking cheap flights to India, the hotel chain is also planning to make a foray in the international markets.
“The company will also expand its domestic footprint in the premium segment,” Chairman and Managing Director, Jyotsna Suri, was quoted in media reports.
“We have already made plans to raise Rs 1,200 crore through debt from institutions and internal accruals for the expansion,” she said.
News reports gave details that the hotel chain will invest INR700 crore to set up eight new luxury properties in cities like Chandigarh and Kolkata and will make an investment of INR500 crore for 25 mid-level hotels that will be branded as ‘Lalit The Traveler’. All budget properties are to be established in cities like Amritsar, Pune and Ludhiana, among others. These budget hotels will have a maximum of 50 rooms and will primarily cater to mid-income level tourists – both domestic and international ones who are likely to take cheap flights tickets to the country.
Off late, India has been witnessing a massive rise in the investment in the hospitality sector by both domestic and international players. Many hotel chains are looking towards India to further their growth agenda.