Golkonda Hospitality Services and Resorts is planning to set up hotel properties in India.
The company intends to set up two hotels in Karnataka and Andhra Pradesh. It will set up a hotel in
Mysore in Karnataka and a three-star 100-room hotel in
Kakinada in Andhra Pradesh at a cumulative investment of Rs 150 crore. Of the total investment, around Rs 50 crore will be equity and the rest will be debt. The company operates hotels and resorts under the 'Golkonda' brand.
To fund the investment, the company is planning to raise Rs 100 crore during the fourth quarter of FY12-13. The company is holding discussions with financial institutions and banks for the debt.