HHI Group plans to open 40-villa resort in Goa
Five star hospitality chain Hotel Hindusthan International (HHI) Group is planning to open a 40-villa resort in Goa by next year. Also on cards is an acquisition in Mumbai. The group is already in possession of 18 acres in Goa and has earmarked nearly Rs. 250 crore (including land cost) for constructing the resort. Construction is likely to begin this year.
For the Mumbai project, HHI is already in talks for acquiring a 100-room hotel in Colaba at a cost of nearly Rs. 150 crore. The Kolkata-headquartered group, which clocked a turnover of Rs. 100 crore last fiscal, has nearly 500 rooms across its five properties located in Kolkata, Varanasi, Bangalore, Bhubaneswar and Pune.
The HHI group is also planning to come-up with four-star category offerings in tier-II towns that include one hoteleach in Patna, Raipur and Indore. Hotels in these towns will have nearly 80 rooms. About Rs. 350 crore would be spent in setting up these four-star hotels.
The new hotels and acquisition are a part of the Rs. 750-crore expansion plan that the group intends to carry out over a four-year period. It is looking to add nearly 400-odd rooms by 2015. The stake sale would see a capital infusion of nearly Rs. 200-250 crore in the group.