Royal Orchid Hotels, Indian franchisee of the Ramada brand, is reviving their plan to build its first overseas hotel and acquire a property as economic growth boosts travel and tourism.
Royal Orchid is based in Bengaluru and plans to build the hotel in Dar Es Salaam, in Tanzania, in the next two years.
The company also plans to spend $2.1 million to acquire a hotel in India in the year ending March 31, he said. Shares gained as much as 2.7% in Mumbai trading.
Royal Orchid is trying to tap rising business travelers to Africa as Indian and Chinese companies invest in Africa.
