Phoenix Group expands India footprint with own luxury hotel chain

New Delhi, Oct 17 (UNI) Phoenix Group Global, a conglomerate based out of Dubai, has launched its brand of luxury hotels -- Zuri Hotels&Resorts--with a total investment of Rs 200 crore and the first property under the label would be operational in Bangalore from January next year.

''The total investment in the project is about Rs 200 crore, funded 30 per cent by debt and the rest through equity. We expect the average room rate to be Rs 9,000-10,000 with a 70 per cent occupancy level for the next year,'' said Phoenix Group Director Aditya Kamani.

Located in the Whitefield tech hub, the property will have 162 rooms, five food and beverage options, a heated swimming pool and a gymnasium, he said .

Phoenix's existing projects include the Radisson White Sands in Goa, the Radisson Plaza Resort and Spa in Kumarakom, which it operates under franchise agreements with Carlson Hospitality.

The company, which is betting big on the Indian hospitality industry, plans to set up a chain of hotels across the country, including star rated properties in Nagpur, Ahmedabad, Kochi, Mysore, Chenai and Visakhapatnam.

UNI AK MP HS1457