Dawnay Day Hotels India completes acquisition of four properties

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New Delhi, Sept 12 (UNI) Dawnay Day Hotels India Ltd (DDHI), a wholly-owned subsidiary of the UK-based Dawnay Day Group, today said it has completed the acquisition of four properties at Ahmedabad, Pune, Lucknow and Jaipur and also signed MoUs in Hyderabad and Bangalore.

The company has also initiated the process of setting up budget hotels across the country and has started work at Jaipur, Ahmedabad and Pune. In addition, work will shortly commence at Lucknow, Hyderabad and Bangalore.

This is part of company's committment to invest 1.2 billion dollars for the project with an initial investment of 200 million dollars in the first phase.

The company aims to fill the gap between luxury and budget hotels in the country, it said in a statement.

Each full service hotel with about 150-225 rooms would look at an average price of 80-120 dollars per night, it added.

''Our vision is to be recognised as the trend setter in the mid-priced Indian hospitality segment,'' company's Managing Director Mandeep S Lamba said.

The hotel chain will target both the corporate and leisure segments with world standard conveniences at wallet-friendly rates, he added.

Dawnay Day has already identified land for acquisition in Delhi-NCR, Chandigarh, Mumbai, Kolkata, Cochin, Vishakapatnam, Coimbatore, Dehradun, Bhubaneshwar, Agra and negotiations are on at various levels.

The hotel in Pune with 174 rooms will have 71 service apartments, Jaipur will be a 115 room property while Ahmedabad will have 130 rooms.

UNI

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