Encore Hotels to add 17 more budget hotels

Chennai / Hyderabad: Mumbai-based Encore Hotels Private Limited is looking at adding 17 budget hotels in the next two-and-a-half years. It is targeting to acquire and manage 13 hotels at a total investment of Rs 50 crore, besides contemplating setting up four hotels, each at a cost of around Rs 20 crore.

“We have already identified locations in Goa, Rajasthan, Kerala, Andhra Pradesh and Karnataka for acquiring and setting up 40-room budget hotels. Money is not a problem for funding our expansion as we have strategic investors as partners,” Kamlesh Barot, director of Encore Hotels, said.

Encore Hotels currently operates 20 Rajdhani restaurants, 7 Rajdhani Snacklets (across the counter food outlets), two Fine Dine restaurants, three hotels and two Encore resorts.

“Buoyed by the response to the Rajdhani restaurants, we have decided to expand into Dubai next month. We have been receiving enquiries from the US, London and West Asia for setting up shop via the franchisee route. Signing the London property is in final stages,” he added.

Encore posted revenues of Rs 25 crore last year and expects to touch Rs 50 crore during this financial year. The company has opened its first Rajdhani vegetarian thali restaurant in South India at Hyderabad.