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Roots Corporation, which is a subsidiary of Indian Hotels CompanyLtd, currently operates 24 hotels and the 25th one was inauguratedtoday at Faridabad in Haryana. "While we will open multiple hotels in bigger cities likeDelhi, Mumbai, Chennai and Kolkata, we are also looking to set upproperties in smaller places like Nagpur, Patna, Coimbatore andKochi," Pani said, adding on an average one property wouldhave about 100 rooms. For owning the properties, the company opt for various models,including acquisition of existing hotels, leasing, managementcontract or fully developed by Roots Corporation. "If any existing facility fits into Ginger model, then we areopen to acquire and convert it. We are looking at thisoption," Pani said without identifying any possible target. Out of these proposed 55 properties, seven hotels are underconstruction in Noida, Greater Noida, Chennai, Bangalore, Jaipur,Chandigarh and Amritsar and will be opened in the next 12-15months, he added. "While some of these hotels are leased ones, some areconstructed by us. The total investment will be Rs 60-70 crore forthese seven hotels, comprising a total of around 600-700rooms," Pani said. When asked about the mode of funding its investment, he said itwill be done through equity and debt. The company had last year inked a deal with Singapore based privateequity firm Omega TC Holdings to raise Rs 150 crore throughmultiple tranches by selling a minority stake in Roots Corporation. Additionally, Omega acquired Compulsorily Convertible PreferenceShares from some existing holders for an aggregate consideration ofRs 70 crore. Ginger Hotels, which currently has properties in places like Delhi,Guwahati, Agartala, Jamshedpur, Chennai and Bangalore, have anaverage occupancy of 70-75%.Tata group to invest over rs 600 cr to open 55 ginger hotels - Wool Felt Hats - Baker Boy CapTata group to invest over rs 600 cr to open 55 ginger hotels - Wool Felt Hats - Baker Boy CapTata group to invest over rs 600 cr to open 55 ginger hotels - Wool Felt Hats - Baker Boy Cap I am an expert from ladies-churchhats.com, while we provides the quality product, such as Wool Felt Hats , Baker Boy Cap, Wool Felt Hats,and more.
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