Wine-maker Grover to invest Rs. 100 crore in hotel business.

Grover Zampa, the second largest wine manufacturer in the country, plans to invest about Rs. 100 crore to set up a premium hotel.

The company will build a 100-room five-star hotel in Nashik, Maharashtra, CEO Sumedh Singh Mandla told BusinessLine. A few international hospitality chains have already evinced interest in operating the hotel, he added.

Another such hotel is expected to come up near Bangalore.

Grover Zampa sells about 1.5 lakh cases of wine, while the leading wine-maker in the country, Sula Wines, sells over 6 lakh cases. The total size of the market is about 20 lakh cases a year. But 70 per cent of Grover Zampa's sales come from the premium category, and the company is expected to turn profitable this year.

The total size of the liquor market in India is about 500 million cases every year.

The company has also tied up with former tennis ace Vijay Amritraj, who has invested in developing a wine brand named after him.

'We spent about two years in developing this product as we wanted to introduce a world class wine in the international market,' Amritraj said.


HBL