Mumbai based Pride Hotels is planning to expand its footprint in the overseas market. The group is looking at Dubai and London as possible destinations for the foray. The company are on the negotiations are on to buy out a 140 room property in London, where as in Dubai, the company is eyeing service apartments on a management contract basis.

Pride Hotels have appointed agencies to do the feasibility study of the two properties and the report is expected by October 2008. Both will be luxury business accommodations.

Pride currently operates nine hotels of which six are owned properties and three are under marketing and management contracts. The company plans to invest Rs.500 crore by 2011 taking its room inventory to 1,500 rooms in 30 hotels from the current total of 800 rooms.

Under its managed hotels called 'Biznotels', the company has a presence in Hyderabad, Chandigarh, and Kochi. It has also tied-up for managing an up market resort in Mahabaleshwar and a hotel and a spa in Jaipur. Its five-star property in Mumbai and a resort and spa at Alibaug and Goa will be operational by 2010.

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Pride Hotels to invest Rs.340 crore for expansion plan (20-Dec-07)