Cleridges will construct 1500 New Rooms at a cost of Rs.200 crore Group CONDERING TO OPEN HOTELS AT SEVEN PLACES with the entry into foreign markets and planning to expand in few cities of the country, cleridges Hotel Pvt. Ltd. will ad 1500 new rooms in its Hotel by investing Rs 1200 crore within next five years. Cleridges Hotel MD and CEO Peter J.Letgrb told the correspondent here "for investing in property we have a capital of 30 crore dollars. We are planning to open hotels at seven places so that the number of rooms may become from 1000 to 1500.
Letgeb said that for expansion of market, company is considering all types of alternatives. It includes organic and inorganic methods, shares, long term agreement for expansion etc. however, the company is not in favour of giving franchisee. He told that where the company is planning to open hotels in the country includes Hyderabad, Chennai, udaipur, Pune, and Keral. Letgeb said "we are in search of important areas in India and neighboring countries where hotels can be constructed." He said that company is at present talking to the parties of Chennai and udaipur respectively for opening the resort and business hotels. The company is going to open premium business hotel in Pune.
With regard to open hotels abroad, he said that company is planning to open hotels in Maldives and Middle East. In Maldives Company will construct a resort whereas a hotel consisting of 140 rooms will be constructed in Meddle East. On query about hotel place in Arabian countries Letgeb told that hotel can opened around Saudi Arabia and company is also talking to builders for it" cleridges is getting constructed hotels at three places in India which includes New Delhi, NCR and Mussoorie. This Delhi based company is constructing two hotels in Surajkund and Mumbai which will be opend by 2008 and 2010 respectively. The Cleridges Group told that company's income during 2007-2008 has reached Rs.90 crore with a profit of 40%
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