CG Corp to set up Rs 5k-cr fund to buy hotels, resorts

CG Corp began its journey in the hotels and resorts space about two decades ago

The Kathmandu-based CG Corp Global is setting up two investment platforms to acquire hotels and resorts. Funds, about Rs 5,000 crore, would be used to buy property in India, Southeast Asia as well as stressed assets in Europe.

“This will be a big leap and transform the group into a global player,” said Binod K Chaudhury, chairman, CG Corp.

The diversified business group currently has 94 hotels and 5,500 rooms. It aims to have 200 hotels and 10,000 rooms by 2020.
Currently, it has a little over 50 properties and 2,600 rooms — the most anywhere —in India,