Financial Daily from THE HINDU group of publications
Friday, Jun 02, 2006
Financial Daily from THE HINDU group of publications Friday, Jun 02, 2006 |
|
|
|
|
|
|
|
Industry & Economy
-
Hotels UK's Dawnay, Day to launch hotels in India Our Bureau
MR ALOK VAJPEYI (left), Vice-Chairman & MD, Dawnay Day AV Financial Services Pvt Ltd, and Mr Peter Klimt, Chief Executive, Dawnay Day International, at a press conference in Mumbai on Thursday. — Paul Noronha
Mumbai , June 1 The UK-based Dawnay, Day Group today announced plans to enter the hospitality sector in India by launching a chain of hotels in the metros and mini metros. The company intends to have 30 three and four-star business hotels in India over the next 3-5 years. Dawnay, Day would initially invest about $200 million in the business, Mr Peter Klimt, Chief Executive, Dawnay, Day International said at a press conference here. Dawnay, Day Group would fund the business through debt and equity. The hotels would target corporate executives and foreign tourists. Each hotel would have 100-125 rooms of around 30 sq m. The average price of the rooms would be about $100, Mr Mandeep Lamba, Managing Director, Dawnay, Day Hotels-India said. "We believe there is tremendous potential for growth in the business segment of the hospitality industry and we expect to mark a substantial presence in the market by offering the business traveller a superior product," Mr Alok Vajpeyi, Vice-Chairman and Managing Director, Dawnay Day AV Financial Services, Private Ltd, said. The company is currently in discussions for acquiring properties in Pune, Mumbai, Chennai, Hyderabad and New Delhi. It expects to set up the first hotel in the next six months and have 10 hotels by 2010. The company intends to acquire land at key locations in metro and mini metro cities, Mr Klimt said. According to Mr Lamba, Dawnay, Day is open to acquisitions to expand its brand profile.
More Stories on : Hotels
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2006, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|