New Delhi, May 28, 2005
PTI
NRI
hotel entrepreneur Sant Singh Chatwal,
founder-president of the $750 million Manhattan-based
Hampshire Hotels and Resorts, is all set to
invest $100 million in India to develop five
luxury 'boutique hotels' at prime locations.
"We will shortly begin work on a 200-room
boutique hotel in Bandra-Kurla in Mumbai at
an investment of $40 million. This will be followed
by acquisition of Palace hotel in Jaipur,"
he said.
"The Jaipur property will cost around
17 million dollar," he said.
Chatwal, who has set up a global hotel empire
and operates hotels in the US, Canada, UK, Hong
Kong and Malaysia, said this is the 'right time'
for investments in India.
In India, Chatwal's hotels will be under the
brand name 'Dream hotels'.
"So many airlines are coming up in India.
And with some of them starting international
operations, I believe there will be a huge demand
for hotel rooms in India in next the 2-3 years,"
he said.
Chatwal said he is considering opening hotels
in Delhi, Bangalore, Hyderabad and Amritsar.
"I have visited two sites in and around
Delhi. It looks promising. In the next three
years, we will be opening at least three hotels
in Mumbai, Jaipur and Delhi," he added.
Chatwal was in Delhi along with former US President
Bill Clinton. "I have brought him to India
on a couple of occasions. Even Senator Hillary
Clinton visited the country in late February,"
he added.
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