Coffee Day Hotels and Resorts (CDHR), the hospitality arm of Coffee Day Enterprises, is looking at expanding its luxury resort business at an investment of over Rs 200 crore. It is planning to set up new resorts and also increase its stake in a luxury resort operated by Barefoot Group in Andaman and Nicobar Islands for an investment of Rs 20 crore.
“Two years ago, Coffee Day picked up a minority 26% stake in Barefoot Resorts from existing investors and is now looking at increasing it to nearly 50% with certain management control,” Samit Sawhny, managing director, Barefoot Group, told FE.
