DELHI
Adamo Hospitality said it is looking to invest Rs 800 crore to set up 10 wholly owned hotels in next five years as part of its expansion plans in the country.
“We plan to invest Rs 800 crore to set up 10 hotels in the four star category in next five years. All the hotels will be wholly owned and managed by us,” Adamo Hospitality Director Harsh Ajmera told PTI.
This will add around 650 new rooms to our already existing room strength of 240, he added.
When asked how the company plans to raise funds for setting up the new properties, Ajmera said: “The money will be raised through internal accruals by the group.”
Full report here Business Standard