UMAK Grp plans Rs 900 cr spend for Orissa hotels

Radisson Hotel's Delhi promoter UMAK group has chalked out a major countrywide expansion plan that starts with the setting up of five hotels in Orissa in next 2-3 years at an investment of Rs 900 crore.

"The company will initially invest Rs 900 cr that can be increased, for accommodations in Orissa and so far have  identified Bhubaneswar, Konark, Paradip and Puri as possible destinations,"  R Kapur, MD of  UMAK Group, said.

The company would shortly sign a MoU with the Orissa govt to acquire land for the projects, Kapur said adding the first two hotels in Orissa are expected to be ready in two years. "Once all the properties are operational, we expect our consolidated turnover to be around Rs 600-700 crore in the next five years with a targetted  turnover of Rs 100 crore from Radisson Delhi this fiscal," Kapur said.

UMAK currently owns one Radisson Hotel in Varanasi and through its JV company with Radisson Hotels International UK, manages three other facilities in Noida, Jalandhar and Kathmandu in Nepal.