Indian Hotels to invest Rs 120 cr to set up hotels

New Delhi, Mar 21 (UNI) Indian Hotels Company Ltd, part of the Tata group, today said it will invest Rs 120 crore in the next one year to set up 12 low frill hotels across the country.

''We will be opening 12 hotels in the next one year,'' Indian Hotels Company Ltd Managing Director and CEO Raymond Bickson told reporters here.

Elaborating on the investment, Mr Bickson said one 100-room hotel would incur an investment of Rs 10 crore. ''But that does not include the cost of the land,'' he added.

Meanwhile, the smart basic hotels from the company, known till now as 'indiOne', had been renamed as 'Ginger'.

The first in the series of 'Ginger' hotels was inaugurated in Hardwar by Uttaranchal Chief Minister N D Tiwari today.

The company plans to open more Ginger hotels in Bhubaneswar, Pune, Mysore, Thiruvananthapuram, Durgapur and Goa by the end of 2006.

''During this time, work would also start on hotels in Agartala, TiruPur, Pondicherry and Nashik,'' Mr Bickson said.

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