Hotel Ronak Pvt Ltd, owned by Rajkot Commodity Exchange (RCX)president Rajubhai Pobaru, has taken over a three star hotel in Rajkot for Rs. 3 crore from Galaxy Group.
“Deal has been finalised and we have started to renovate the hotel for providing better services. Hotel Ronak also intends to set up a restaurant and a conference hall in the hotel. The company will invest additional Rs.50 lakh for the proposed restaurant,” said Rajubhai Pobaru, director, Hotel Ronak, the acquirer of Galaxy Hotel
Sharing more information about the deal with Business Standard, Pobaru said, “Hotel Ronak was a part of Hotel Galaxy and we have now merged both the hotels by acquiring Galaxy Hotel, run by Kiran Patel, who is a BJP candidate from Rajkot in the ongoing Lok Sabha elections”.
The Galaxy Hotel was started in the year 1979 and has capacity of 35 rooms. The renovated hotel was be re-launched today. The company is also planning to increase room capacity in future. “We will stick with the three star category, no plan to upgrade the hotel to four or five star level”, Pobaru added.
