UNITECH LTD plans to invest Rs 2,500 crore to develop 35 hotels across India over the next seven years. The managing director, Sanjay Chandra affirmed that the firm would develop 35 hotels in next six to seven years. As a provision, land has been engaged in many cities at prime locations. The 28 hotels of the company would account for around 7,000 rooms, to be constructed by 2010.
The hotels in India would be located in the national capital region (NCR), Kolkata, Chennai, Goa, Mysore, Bangalore, Hyderabad, Chandigarh, Siliguri and Assam. Mr. Chandra acknowledged that about 50 percent hotels would be located in Kolkata and NCR cities. Host of real estate companies have chalked out to invade into the sector including DLF, Parsvnath and Emaar MGF. While DLF entered into a joint venture with Hilton Hotels Corporation, Emaar MGF has announced a tie-up with Accor for its budget class hotels.
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