Louvre Hotels, the France based hospitality chain plans to set up 100
medium-sized properties in India in a span of five years at an outlay of $200
million (approx Rs 900 crore).
The company is likely to open seven new hotels in India in the current year
while another 20 will be commissioned in 2011. Out of the envisaged 100 hotels,
one third will be owned by the company.
Louvre Hotels has a chain of over 1,100 hotels, single-star to five-star, under
seven brands. So far the company has only three hotels in India through
management contracts.