Dynamix Balwas Group's DB Hospitality, in which DB Realty recently picked up 49% stake, is planning to raise over Rs 1,000 crore by selling stake either in the hotel company or any of its three operational and eight under-construction properties as per a report in ET by Kailash Babar.

DB Hospitality plans to complete the fund raising exercise by March-end , and the funds raised by selling stake in the hospitality venture are expected to provide liquidity support to the realty business as well. 

The money thus raised will go towards the hotel projects development /implementation," said a DB Hospitality spokesperson. DB Hospitality plans to build 2,800 rooms in its hotel properties across the country by the end of 2015. Currently, it has three operational properties — Grand Hyatt in Goa with 315 rooms, Hilton in Mumbai with 171 rooms and Le Meridian in Ahmedabad with 63 rooms.

Apart from these, the company has eight more hotels at various stages of implementation in five cities and expects them to be operational in the next 3-4 years. The company is open to diluting stake in the holding company or standalone projects.

But it will sell stake in an operational property only if the offer is at a significant premium, sources said. At least, seven entities, including private equity firms, are already in talks with DB Hospitality for picking up stake.