Construction Industry News
“We will raise around Rs 150 crore for our expansion. From this, Rs 100 crore will be used for the real estate business and the rest will be used for the hotels business," G Yoganand, chairman of Manjeera group, said at the inauguration of its ‘Aditya Sarovar Premier’, a five-star luxury hotel here today.
“The hotel will come up as a public, private partnership (PPP) project between the state government and the Manjeera group.Aditya Sarovar, to be managed by the Sarovar Hotels group, has a 10,000 sft banquet space and involved an investment of Rs 130 crore.
“Currently, 30-35 properties are at the development stage," said Ajay K Bakaya, executive director, Sarovar Hotels. The hotel chain is planning to add 3,500 more rooms to its existing capacity of 4,500 rooms in the next 3-4 years.
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