DB Hospitality, part of the Mumbai based real estate company DB Group, is
expected to develop nine hotels pan-India at an investment of around Rs 5,500
crore by 2014. The company is eyeing private equity investment to part-fund its
expansion and is in talks with a few companies.
For this purpose, the company has entered into a deal with Hyatt
International to set up five hotels--Park Hyatt (125-storeyed iconic India
Tower) in Mumbai, Grand Hyatt in Goa and Pune, Hyatt Place at Hinjewadi, Pune
(Maharashtra) and Hyatt Place in Mundra, Gujarat.
Besides, the company is setting up four hotels in Delhi's hospitality
district, expected to be ready by end-2013.