UK-based investment group Duet’s Indian hospitality arm Duet India Hotels is looking for more land to expand its portfolio and add more than thirteen hundred rooms by the end of this financial year.
The group plans to develop 20- 30 mid- scale and upper middle segment hotels with around five thousand rooms in the next 2-3 years. The company has recently signed a franchise agreement with Starwood Hotels and Resorts Worldwide to open the Four Points hotels by Sheraton.
The company, which opened its first property on 1st October in Jaipur, a 115- room four- star hotel, is developing four such properties in Ahmedabad, Hyderabad, Indore and Pune.
Dilip Puri, CEO, Duet India Hotels, said, “The five properties including Jaipur is worth around Rs 500 crore. In these, we would have around 882 rooms. We plan to reach to fifteen hundred rooms by the end of this fiscal.” “For this kind of expansion, we are looking for more land. As soon as we acquire land, we can start building. We have already acquired land in Hyderabad for developing a property similar to our Jaipur property. We are also looking at other Tier- II cities such as Lucknow, Nasik, Bangalore and Nagpur.
Bangalore would be more of a brownfield development. Among the metros, Chennai is also our target.”