MDLR to build four hotels for Rs 1,000 cr

New Delhi: The severe hotel room shortage is attracting new players to set up hotels. The latest to join bandwagon is Rs 2,000-crore Gurgaon-based MDLR Group which will be opening four luxury hotels with a proposed investment of Rs 1,000 crore (excluding land price) in next three years.
The group which forayed into the aviation sector with MDLR Airlines, operating its first flight on Delhi-Chandigarh sector last month, will also start operations on Ranchi and Kolkata sector. The airline will be positioned as a regional airline serving only vegetarian food.
As far as the airline business is concerned, MDLR is starting its operations on Delhi-Chandigarh-Ranchi and Kolkata sector on 5th May. In its first phase it has acquired two aircraft from British Aerospace Systems (BAE). It is the first airline in India to operate four engine Avro regional jets on the domestic sector. The investment in the jets will be to the tune of Rs 50 crore (equity funded).
“By the end of next year we will be acquiring 10-12 more aircraft,” said Mr Goyal. The airline will be later expanding operations to Mumbai, Surat, Jaipur and Bhavnagar.
16/05/07 Vishakha Talreja/Economic Times

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Categories: MDLR May 2007