Source: ehotelier.com
Bird group subsidiary Bird Hospitality Services (BHS) is contemplating setting up 20 hotels by 2015. The group has recently forayed into the hospitality sector with a 50:50 joint venture (JV) with Thailand-based hospitality chain, Dusit Hotels & Resorts.
An investment in the range of $300 to 400 million has been set aside for the hotels venture. "The funds will be raised through debt and internal accruals," said Ankur Bhatia, executive director, Bird Group. Asked if the group had any plans of entering the capital market, he said, "We have plans of floating an initial public offering by 2010."
The Bird Group will be setting up hotels and the joint venture will manage them, said Bhatia. He added that the group will also be looking at third party work. "We will also be looking at third party management. We are working with developers for the purpose," he said.
In the first phase, the Bird group is looking at an inventory of 540 rooms. "We are setting up four luxury hotels in Delhi, Goa, Rishikesh and Jaipur," said Bhatia. "Land has already been acquired. The hotels are expected to be operational by 2010-11," he said. Other destinations on the cards are Pune, Amritsar and Hyderabad.
Dusit Hotels & Resorts has five brands including Thani, Princess, D2, Devarana and Residence serviced apartments. Asked which brands the Bird group was looking at in India, Bhatia said, "We are looking at all brands ranging from Thani and Devarana." Dusit Hotels & Resorts has presence in Thailand, United Arab Emirates (UAE), The Philippines and Myanmar.
