The Mirah group, which runs eight Citrus hotels, plans to add nine more that it will build, own and operate. Land has already been acquired for all these properties, said Gaurav Goenka, managing director of Mumbai based Group, adding that the construction cost of a luxury hotel like Citrus, including the price of land, works out to about Rs.75 lakh per room.
The 26 year-old firm, with interests in food and beverage, hospitality, travel and international trading, has a consolidated revenue of over Rs.800 crore and has never raised money from PE firms. Mirah Group also plans to expand its food and beverage business over the next three years. “We want to increase the number of brands as well as the number of outlets,” said Goenka.
The group plans to take its flagship restaurant brand, ‘Khandani Rajdhani’, to overseas markets, including Singapore, Dubai and London, over the next one year. Currently, it has a Rajdhani outlet in Oman as per a report in Mint. It also plans to increase the number of Mad Over Donuts outlets to 75 by March 2013 and 200 by 2014 from the current 45. Expansion plans have also been firmed up for its Manchester United Café Bar and Restaurant, India’s first and only vegetarian Mediterranean quick service restaurants or QSR chain Falafel’s, food court brand Palette, and Italian food chain—Cafe Mangii.
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