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 Research Team / 15:28, Mar 13, 2015
Markets are now reinforcing the perception of an early interest rate hike by US Federal Reserve, with consensus calling for the hike taking place in June, when compared with the prior expectations of a hike in September.