8-10 budget Choice Hotels every year

Hotel branding and marketing company Choice Hotels India is planning  to establish 8-10 budget properties each year at an investment of 750 crore.

"The company currently has 30 hotels across 22 destinations in the country, and we are looking to add 8-10 properties to this number every year for the next 2-3 years. Our expansion plans would see the promoter companies invest about Rs 700-750 crore in the next 2-3 years," Vilas Pawar, CEO of Choice Hotels India, told PTI.

Total room capacity of the company will increase to 3,000 from the current 2,000 once the expansion is undertaken, he said, adding that the budget hotel segment was still largely untapped.

He said Choice Hotels, so far, has been involved in marketing and branding of hotels but it would soon commence management of its properties as well.

"We will be managing all our budget hotels in the metros and major cities from March next year. This would not only help us add to our bottomline figures but even build our brand image further," Pawar said.