Pride Hotels is planning to set up two budget hotels in Hyderabad and Kochi. The hotels will be under its ‘Pride Biznotel’ brand. Total investment of around INR140 crore is expected to be pumped into the project.
The Hyderabad and Kochi properties will have close to 100 rooms each.
Pride Hotels currently operates 5 five-star luxury hotels in Ahmedabad, Bangalore, Pune, Nagpur and Chennai, besides operating five properties under management contracts, together with a room inventory of 1,000.
The Hyderabad and Kochi properties are part of the company’s Rs 1,000-crore expansion plan of having 30 hotels across luxury, business and resort categories under its fold in all metros and semi-metros, besides tripling its room inventory by 2015.
Pride hotels is a part of the Mumbai-based over Rs 3,000-crore SP group of companies.
