Leisure Group building Rs. 100-cr properties

In a recent development, Leisure Group hospitality chain has set aside Rs100 crore to build new properties in the next two years as it is coming up with seven more hotels largely managed by the company but funded by asset owners, director Vibhas Prasad said, adding that the new properties will come up at various locations in Uttarakhand, NCR and Goa. As for as financing is concerned, the properties will be a mix of debt and internal accruals as its investment will only be on the properties that it will own and operate. The business model of the company will follow a mix of owned hotels and managed properties as per its portfolio covering hotels, resorts, luxury villas and camps, he added.