Berggruen Hotels’ Keys brand of budget and mid-market hotels has announced a Rs375 crore deployment of capital for an aggressive expansion plan.
“There is significant interest from hotel owners for the Keys brand. On cues of global economy recovery, we are very optimistic about the brand’s growth. We shall be deploying Rs345 crore in equity and debt in the next 18 months to this fund growth,” said Sanjay Sethi, managing director, Berggruen Hotels.
Keys already has either owned or marketing properties in Thiruvananthapuram, Lonavala and Hyderabad and expects to induct another three by March 2010 in Ludhiana, Mahabaleshwar and Bengaluru. Construction at the Pune, Aurangabad and Kochi sites have started while work will begin at the Vizag, Jammu and Kovalam properties in the next three months.
Sanjay Sethi is one of five jurors at the inaugural Hotelier India Awards presented by Grohe in association with Hafele.
