Kolkata-based Daiwik Hotels on Tuesday announced its plan to launch five hotels in key pilgrimage centres across India with an initial investment of Rs 180 crore in the next 30 months.
“We believe there is a huge potential in this niche market and specially the mid-segment is best poised for growth.Under the phase I , we plan to build five properties in the next three years which would see an investment of around Rs 180 crore,” said Debashis Ghosal, MD and CEO, Daiwik Hotels.
The five hotels will come up at Rameswaram (Tamil Nadu), Varanasi (Uttar Pradesh), Dwarka (Gujarat), Tirupati (Andhra Pradesh) and Katra (Jammu and Kashmir).
“We are currently focusing on the southern market with our first pilgrim hotel undergoing soft-pilot run at Rameswaram. With an initial investment of Rs.180 crore, these five company-owned hotels will be operational in the next 30 months,” he said.
“Once I am done with the Phase -I plans we will start acquiring lands for pur phase-II plans where we would like to have fifteen new properties which would see an investment of around Rs 600 crore,” Goshal added.
The former promoters of multiplex company 89 Cinemas, who sold their business to INOX, earlier announced its foray into pilgrimage hospitality via Daiwik Hotels.
