Air Deccan promoter plans a host of hospitality projects

Mr S.N. Ladhani, Deccan Aviation promoter, plans to invest up to Rs 1,000 crore in various hospitality projects, including a resort in Rishikesh.
Mr Ladhani, who also runs a Coca-Cola bottling plant, told Business Line that he plans to invest in a series of hospitality projects across the country. "I have several interests and one of them is in the hospitality industry," Mr Ladhani said.
He said he is in the process of buying a 160-acre property on the foothills of the Himalayas near Rishikesh for setting up a world-class Ayurvedic resort. He said he will invest between Rs 500 crore and Rs 750 crore in this project.
The next in the line is a hotel in alliance with Hilton, expected to come up near the existing Bangalore airport.
Mr Ladhani acted as an angel investor when Capt G.R. Gopinath wanted to start a low-cost airline, Air Deccan. 'I never asked him questions after I put in my money. Whenever the board of directors wanted some more (funds), I used to readily invest more into the airline business,' he said.
Last week, Mr Vijay Mallya's UB Holdings picked up 26 per cent stake in Deccan Aviation, which runs Air Deccan. Mr Ladhani and his brothers currently hold about 13.5 per cent stake in Deccan Aviation.
06/06/07 Business Line/Moneycontrol.com

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Categories: Air Deccan Jun 2007