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Realty firm to invest Rs 300 cr in 4 hotels in Bengal

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Kolkata-headquartered real estate developer Jain Group plans to set up four hotels in West Bengal over the next three years.
With business interests in areas such as infrastructure, hospitality and auto financing, the company, with annual sales of Rs 200-crore, will invest nearly Rs 300 crore to build these properties by the end of 2014-15. “These properties will be a mix of premium and budget hotels. While plans are afoot for setting up two premium hotels, one each in Siliguri and Durgapur, we will build two budget hotels in Kolkata,” Rishi Jain, Director of Jain Group, told reporters here at a press conference.
The company has roped in actors Prosenjit Chatterjee and Arpita Chatterjee as brand ambassadors for its affordable housing properties located in the northern fringes of the city.
According to Jain, the company has firmed up plans to focus its investments in the “untapped” market in the tier-II cities. “We are in the process of acquiring land in Bhubaneswar and Jharkhand. Our company is committed about Bhubaneswar,” Jain said.
Source: Thehindubusinessline

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