The Economic Times dt.26/8/08
NEW DELHI: Royal Orchid Hotel Group will invest Rs 500 crore to add eight new hotels by 2010 across its three brands of luxury hotels, service apartments and four-star hotels, reports Vishakha Talreja. The company is also looking at acquiring properties in tier II and tier III cities as the valuation of hotels is low at present. “Real estate developers are not very bullish about hotel projects now, so there are some good deals available,” says Royal Orchid Hotels CMD Chender Baljee.
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