ITC is setting up a major hotel in the heart of Chennai with an estimated investment of Rs 1,200 crore. The 1.6 million-sq feet hotel will be completed by 2010.
Similarly, ITC is also setting up a second hotel in Kolkata with an estimated investment of Rs 860 crore. The company is also setting up a second hotel at Bangalore and the same will be ready soon, ITC chairman YC Deveshwar said.
?We have land in Ahmedabad, Hyderabad and outside Delhi. We will set up hotels in these areas in the years to come. The company will also look at joint venture opportunities where it does not have land to do so,? he added. Overall, the company is earmarking Rs 4,000 crore investments in the next two years, he said.
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