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Tuesday, November 27, 2007

Pride Group of Hotels approaches the West Bengal government for two acres of land in and around Kolkata to set up a 250-room five-star busines hotel

The Pride Group, which has interests in real estate and finance, presently has 500-odd rooms under its umbrella. The group's long-term strategy is to take the total number of room to 1,150 in key cities by the end of 2010-2011.

The Pride group already runs five-star properties in Pune, Ahmedabad, Chennai and Nagpur.

Pride's fifth property is under construction in Bangaluru.

Pride Group is also planning to set up properties in Goa, Hyderabad and Mumbai.

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The Pride Group has received a significant equity investment from Kotak India Real Estate Fund, towards part financing a Rs 350 crore expansion-cum-renovation plan.

Speaking of the ambitious expansion plans, Mr. S P Jain, Chairman, The Pride Group said: “With this key investment from the Kotak Realty Fund, we are now close to finalizing the sources of funds for our expansion plans."

:Pride group to have footprints in the east: Joy Roy Choudhury: Express Hospitality.

:Pride Living Room on Flickr: Pics_Marc's photos.


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