Tata Group firm Roots Corporation, operator of mid-budget hotel chain Ginger, says it will invest over Rs 600 crore in the next four years to open 55 new properties across India.
“In the next four years, we plan to open 55 new hotels. This will require us to invest over Rs 600 crore,” Roots Corporation Chief Executive Officer Prabhat Pani said in a statement.
Roots Corporation, which is a subsidiary of Indian Hotels Company Ltd, currently operates 24 hotels and the 25th was inaugurated this week at Faridabad in Haryana.
“While we will open multiple hotels in bigger cities like Delhi, Mumbai, Chennai and Kolkata, we are also looking to set up properties in smaller places like Nagpur, Patna, Coimbatore and Kochi,” Pani said, adding that on average each property would have about 100 rooms.
For owning the properties, the company opts for various models, including acquisition of existing hotels, leasing, and management contract or fully developed by Roots Corporation.
Of these proposed 55 properties, seven hotels are under construction in Noida, Greater Noida, Chennai, Bangalore, Jaipur, Chandigarh, and Amritsar and will be opened in the next 12-15 months.