Meuse Hotels to invest Rs 1,000 cr in hospitality sector

NEW DELHI: Foraying into the Indian market, Singapore-based Meuse Hotels and Hospitality Ltd will invest Rs 1,000 crore over the next two years to set up 100 hotels in the country.

"Over the next two years, we plan to invest about Rs 1,000 crore in India for developing 10,000 rooms in 100 hotels, mostly targeting tourist and emerging destinations in the country," Meuse Hotels and Hospitality Ltd Executive Director Anil Tandon said.

The company was looking at all options of establishing new properties, acquiring existing ones or entering into management contracts for its expansions in India, he said.

"We will set up properties all across India and enter into tie-ups with travel agents and airlines across the country," he added.

To start with, Meuse Hospitality would take over HSSPL properties in Goa and Nasik and convert them in tune with their international properties, it informed.

The company would introduce three categories of hotels in India - Jupiter (100-200 super luxury rooms), Mercury (50-150 business class rooms) and Moon (50-150 budget type rooms).

Tandon said that within next one month, Meuse would tie-up with high-end properties of Jupiter category in Udaipur and Lucknow.

In the next six months, it plans to set up or take over 40 hotels, which would comprise 10 Jupiter and 15 each in Mercury and Moon category.

Tandon said apart from the chain of hotels, the company would also set up two hotel management institutes and a e-based chain of restaurants across India.

Asked about the possible locations for the institutes, Tandon said, "Nasik is a sure location. For the second institute, we will try to set up it in Lucknow."

The institutes would be launched by March 2008, he added.