Keys Hotels, the mid-market brand of Berggruen Hotels, said today it is eyeing 50 properties across various cities in India by FY16. The total investment will be of Rs 610 crore.
"We have 11 properties at present and 16 more are under development, taking the total to 27. We are also in talks with another 65 potential clients for property management across the country. We have lined up a total investment of Rs 610 crore for the expansion, which is a mix of equity and debt," Berggruen Hotels Managing Director and CEO Sanjay Sethi told.
Of the total investment, Rs 386 crore has already been deployed, he added.
The company signed six new properties in Mumbai, Pune, Amritsar, Goa, Alibaug and Noida and is actively pursuing more opportunities across the country as per a report by PTI.
Of the 27 properties, 13 are owned and 14 are under managed hotels, he added.
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