Premier Inn, United Kingdom's hotel chain, has chalked out an investment plan worth Rs 4,000 crore to develop 3-star hotels across India.
The company intends to set up 80 hotels in India over span of ten years with combined capacity of 9,700 rooms. Initially, the company is likely to set up 18 hotels in India by 2014. The hotel chain is likely to begin with the metros and will slowly expand to cover leisure destinations as well.
For its India venture, the company has formed a JV with Emaar MGF, which is expected to bring in the initial investment. However, Premier Inn intends to raise money through debt later.
Source : ProjectsToday
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