Roots Corporation, a subsidiary of Indian Hotels Company (IHCL), that runs mid-budget hotel chain Ginger, plans to add more hotel properties in India.
The company plans to set up 55 new hotels in the next four years at an investment o Rs 600 crore. These hotels will be funded through equity and debt. Out of these proposed 55 properties, seven hotels are under construction in Noida (Uttar Pradesh),
Greater Noida, Chennai,
Bangalore,
Jaipur (Rajasthan), Chandigarh and
Amritsar (Punjab) and will be opened in the next 12-15 months. An average one property will have about 100 rooms. The company may opt for various models, including acquisition of existing hotels, leasing, management contract or fully developed by itself.
Meanwhile, the company has opened its 25th hotel at
Faridabad in Haryana.