UK-based company to start chain of hotels in India

London, Jun 2 (UNI) The UK-based Dawnay, Day Group announced plans to enter the hospitality sector in India by launching a chain of hotels in the metros and mini-metros.

The company intends to have 30 three and four star business hotels in India over the next five years. Dawnay, Day would initially invest about 200 million dollars in the business.

The hotels would target corporate executives and foreign tourists.

Each hotel would have 100-125 rooms of around 30 sq m. The average price of the rooms would be about 100 dollars.

The company is currently in discussions for acquiring properties in Pune, Mumbai, Chennai, Hyderabad and New Delhi. It expects to set up the first hotel in the next six months and about 10 hotels by 2010. The company intends to acquire land at key locations in metro and mini-metro cities.

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