Bharat Hotels considers IPO in 2013 for future expansion

Top Quote Bharat Hotels that runs the Lalit brand of hotels and resorts across India, today said it might make a public offer in the next two years to raise funds for future expansion. End Quote
  • (1888PressRelease) March 16, 2011 - The company headed by Jyotsna Suri is currently expanding its presence across India and overseas markets such as Dubai and Thailand through internal accruals and bank loans.

    "We are on track with our expansion plans of about Rs 2,500 crore announced earlier. The funds are being raised through internal accruals and loans," Suri, who is the Chairperson and Managing Director of the firm told reporters here.

    Asked if the company was planning a public listing, she said: "We might look at an Initial Public Offer (IPO). Not this year or next year, probably in 2013."

    This year the company will operationalise three hotels, one each in Jaipur, Chennai and Kolkata.

    "Next year there will be new properties launched in Amritsar, Dehradun and Pune," Suri added.

    The company had earlier said it will invest Rs 2,500 crore by 2014 for expansion across luxury and mid-segment properties.

    It has earmarked Rs 2,000 crore for expansion of luxury hotels and Rs 500 crore for mid-segment hotels under the Lalit Traveller brand.

    The firm has plans to open a hotel in Thailand by 2014, while it has put on hold plans to open a hotel in Dubai due to economic situation there.

    According to its website, Bharat Hotels Ltd currently has under its umbrella eight operational hotels, apart from the nine upcoming hotels.


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