Panoramic Universal forays into tourism

New Delhi, Nov 13 (UNI) Panoramic Universal Ltd (PUL), a mid-segment global hospitality player, is foraying into travel and tourism sector with the acquisition of controlling stake in Hi-Flyers Travel Services Pvt Ltd, a travel agency catering to premium corporate and HNI clients.

Hi Fliers, a full-service travel outfit, caters to international and domestic ticketing, package tours to popular destinations worldwide, forex and other allied services like visa approvals, passport assistance etc.

''Panoramic has plans to launch a travel portal of its own very shortly, which will offer a comprehensive travel solution to our customer right from travel arrangements to staying in our own hotels,'' said company Chairman Sudhir Moravekar.

The company is also looking at acquiring travel agencies across the US and the UK to capture the inbound as well as outbound tourism for these countries, he added.

PUL owns and operates nine hotels in the US, India and New Zealand. It manages the country's largest night club, AREA 51 in Pune.

The company is looking at expanding its hotel portfolio in India through greenfield projects as well as acquisition of running hotels.

It has shortlisted Jaipur, Panvel (Mumbai), Kumarakom (Kerala) Pune, Thane (Mumbai), Durgapur (West Bengal), Usgoan (Goa) and Hyderabad as the destinations for its hotel projects.

UNI