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New Delhi, Nov 19: New Delhi-based Bharat Hotels Ltd on Wednesday relaunched its brand as ‘The Lalit’ and projected a flat growth this fiscal.
"We have no plans of reducing room rentals right now," said Jyotsna Suri, chairperson and managing director of the company. "We are going to invest Rs 1,200 crore over the next 3-4 years. Half of this is going to be through internal accruals and the other half through borrowings."
The group is also planning to develop budget hotels with room capacity ranging 20-50.
In the next two years, the number of rooms in the company's hotels will reach 3,600, from the current 1,500.
Suri said that Bharat Hotels is looking at a flat, or 5%, growth for 2008-2009. Currently, the company is not looking at dilution of equity. But in 2-3 years time, when its projects are complete and the market is more stable, it could go for an IPO, she noted. The company has seven hotels, which are operational; 10 others are at various stages of development.
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