Litolier Group to infuse Rs 1,500 cr for four new hotels

Written by Neha Pal | Neha Pal | New Delhi | Updated: Jul 3 2010, 07:18am hrs
The Litolier Group, which launched its first hotel Ramada Plaza in Delhi last year, plans to open four new hotels, one each in Mumbai, Goa, Bangalore and Chennai, with an investment of Rs 1,500 crore.

Ashok Mittal, chairman, Litolier Group, said: We are going to open four new hotels. These will include a five-star deluxe hotel with over 350 rooms at Andheri Kurla road in Mumbai, only two km from the international airport. The construction of Mumbai hotel has started and will be completed next two years. We will be starting with the Goa project next year. We are in talks for acquiring land in Bangalore and Chennai.

Litolier Group, started in 1969, has been present in real estate, lighting, marble and finance businesses before entering the hospitality segment with the Ramada Plaza in Delhi.

Ramada Plaza was acquired via bidding for Rs 45 crore and more than Rs 100 crore have been spent on restroration.

Mittal said, Ramada is a member of Wyndham hotels group, one of the largest and most widespread lodging franchisers in the world. With addition of more facilities like the swimming pool, health centre, gym and spa, chinese and Italian restaurants, the investment is expected to rise further."

Mittal also said that the government has booked 200 rooms for the 2010 Commonwealth Games.

With a turnover of Rs 2,000 crore, the Litolier Group has been associated with prestigious clientele like the Presidential House, The Tatas, Godrej, Reliance. Their other businesses include Litolier Finance Pvt Ltd, Litolier Lights & Lighting, Litolier Marble and Litolier Properties.