property investment

Leisure Hotels Group plans investment of Rs. 160 crore in nine properties

News

Leisure Hotels Group, the renowned Hospitality firm plans to invest Rs. 160 crore to add nine properties into its bandwagon across the country by December 2021, a top company official has said.

Presently, the firm group is operating 27 boutique properties that have approximately 875 rooms in India.

Vibhas Prasad, Director, Leisure Hotel group said we will be investing Rs 160 crore to add 9 properties across the country by end of 2021. Apart from this, we will also be adding 70 rooms in our existing property in Naukuchiatal during this period.

The company will manage three out of the all new properties and the remaining six will own by the firm he further said.

All these properties will come up in Greater Noida, Dehradun, Haridwar, Bhimtal, Manali, Rishikesh, Pench and Kanha among others, Prasad informed. On the question of fund expansion, he said that this will be a mix of debt and internal accruals.

Prasad then said our expenditure is mainly on the properties that we own and operate. He further stated we are transitioning from being an asset owning company to an ‘asset right’ company.

At present, the Leisure Hotels Group owns 80 percent of the properties in its portfolio and manages the rest 20 percent.

On the question of strategy for future growth, Prasad said we are predominantly a domestic hotel brand and have a strong focus on domestic tourists to drive the business.

Established in 1989, the Leisure Hotels Groups portfolio currently comprises hotels, resorts, luxury villas and camps. It is also planning to launch a hostel in Rishikesh in January 2020.