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Gateway Hotels and Resorts, a part of the Taj Group, is planning to open five hotels in metro cities in India in the next two years, according to reports.
Gateway Hotels and Resorts COO P K Mohankumar reported "Five Gateway Hotels are in the final stages of construction at Chennai, Kolkata, Bangalore and Faridabad, besides Hubli and will be ready in the next two years".
The Chennai hotel would be the first one to be opened and will commence operations by March 2013, says report.
There are reports that management contracts have been signed for another 10 hotels in various locations.
India Infoline News Service / 09:04, Jan 22, 2015
The outlook is a flat start. The market will look to scale to new peaks though not much effort is needed for the same. HUL saw a rally and short-covering may have pulled it up further. Speculation is on that its parent will raise stake through an open offer. After the cooling in oil prices, Cairn results will be in focus.