11 August 2009

Premier pushes into India

NEW DELHI ââ¬' UK hotel chain Premier Inn is planning to open about 80 hotels in India in the next 10 years.

Premier will build 3-star hotels at various locations in the country with a combined capacity of 9,700 rooms.

"We have planned 18 hotels in the first five years and 80 in 10 years,ââ¬~ said Premier Inn India managing director, Aly Shariff.

He said the company has formed a joint venture with real estate player Emaar MGF, which will bring in the initial investment.

Emaar MGF is a joint venture between MGF Developments Limited and Emaar Properties of Dubai.

"Our JV partner will bring in the investment initially, however, we will raise money through debt later," Shariff said.

The hotel chain would begin development in the major metro areas and later expand to cover leisure destinations.

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