Archive for the 'Hotels, Restaurants' Category

Ginger to invest Rs 204 cr to set up 17 budget hotels

Ginger to invest Rs 204 cr to set up 17 budget hotels

MUMBAI: Indian Hotels Company Ltd’s Ginger Hotels will invest over Rs 204 crore to set up 17 budget hotels in tier-II cities in the next 12 months. “In next 12 months, the total number of Ginger hotels will go up to 25 from the current eight. Each 100-room Ginger hotel on an average will be set up at a cost of Rs 11-12 crore, excluding the land cost, which varies from city to city,” Prabhat Pani, CEO, Roots Corporation, which operates the Ginger gen-next ‘smart basics’ hotels chain, said. Roots Corporation is a 100% subsidiary of Indian Hotels Company Ltd (IHCL), which also promotes the Taj Group of hotels. The investment would be financed by a mix of debt and internal accruals.

Mocha coffee chain in expansion mode

Mocha coffee chain in expansion mode

MUMBAI: Coffee chain Mocha has embarked upon an expansion plan to enhance its network to 60 outlets from 14, besides entering overseas markets like Africa, Europe, the Gulf and South-East Asia by end-2008. “We aim to have 60 Mocha outlets across the country by end-2008 in tier-n cities, eastern India and the metros,” Satyendra Sinn Dasondi, executive director, Impresario Entertainment and Hospitality (IEHPL), which owns the coffee chain, said here. All the Mocha outlets will be franchised. Each Mocha outlet would cost around Rs 50-70 lakh spread over 2,500-2,800 sq ft. The company is also planning to franchise 10 outlets in South-East Asia in three to four years with its first outlet in Singapore scheduled to open by end-2008.

Latest Posts