Roods Corporation of India (RCL), a subsidiary of Indian Hotels Company Ltd, will invest about Rs 80 crore in the country for setting up seven to eight hotels in the current fiscal.
The company is planning to have 60-70 hotels in various locations aross the country in the next four-five years, with seven to eight hotels planned for the current fiscal, RCL Chief Executive Officer and Director Prabhat Pani told reporters here.
The cost would vary between Rs 8 crore and Rs 10 crore for each hotel and the proposed hotels would be located in western and southern states, including in Pune and Chennai.
Pani said the expense of each venture would depend on the location.
The locations have been identified after detailed study taking into account various parametres such as potential of the market, profile of clientele and peak occupancy period.
Asserting that the hotel industry has a great potential to grow, he expressed hope that the sector was likely to contribute six per cent to the national GDP in next few years.
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Pani claimed that RCL did not fell the pinch of global meltdown but rather, it had a positive impact, "which led us to grow even during the recession".
The company recently inaugurated the ginger brand of hotel here, the first in the state of Jharkhand. It was built over 1.3 acres land at a cost of Rs 11.5 crore.