Gopinath plans foray into hospitality business

Bangalore: After having crafted a new space in the Indian aviation realm, Captain G R Gopinath is entering the hospitality business. He, together with a couple of others, has incubated a hospitality venture to set up a country-wide chain of mid-tier business hotels and resorts.
The promoters are targeting to build the country's largest mid-tier business hospitality chain of some 1,000 hotels across 100 cities and towns over a span of ten years. Each hotel will have about 125 rooms and will need an investment of up to Rs 50 crore. The other promoters are Madhu Konety, an investment banker from the US, and Girish Rao, former head of Tangerin Hospitality and former marketing head of Leela Hotels, Palaces & Resorts. Konety has interest and investments in India, Europe and the US.
When contacted, Gopinath confirmed he was entering the hospitality business but refused to divulge details. Sources said an official announcement is expected in September.
The company is expected to be called Deccan Hospitality, while the brand name will be Pine Wood Hotels.
07/08/08 Mini Joseph Tejaswi & Anshul Dhamija/Times of India

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Categories: Deccan Aug 2008, New Aug 2008