Lalit Suri Hospitality to open first overseas property in London.

The Lalit Suri Hospitality Group, an enterprise of Bharat Hotels, is looking to make operational its first overseas property – in London – by September next year.

According to Jyotsna Suri, Chairman and Managing Director of the group and Bharat Hotels, the boutique property, with 70 keys (rooms), is being developed at an approximate cost of £40-45 million (₹403-453 crore).

The group had earlier acquired a heritage building – a school – at St Olave’s, near Tower Bridge, for £15 million, sources said.

'The London property will be our first overseas property. I am going to open it in September next year (2016). Investments right now are fluid and it will be between £40-45 million,' she told BusinessLine during an interview.

Suri, who was in the city to attend the National Executive Committee meeting of Federation of Indian Chambers of Commerce and Industry (FICCI), admitted that the London project has over-shot its budget. 'If I have to do a greenfield project, I know the budget. But when it’s a restoration project, you cannot budget it. It’s an open-ended situation,' she explained.


HBL