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Category: Industry Overview
Bharat Hotels (now named as Lalit (named after the company’s founder Lalit Suri) is planning to venture into economy and budget hotels. The company which is in spate of expansion and setting up properties in mid-market segment across 7 cities is set to open by 2010. It had severed its connection with Intercontinental Hotels Group (IHG) in 2008 and is looking at a new brand name for its new properties. The company may loot at captial market to raise funds for its expansion. It may be noted, the company has delisted from bourses in 2003 after the promoters raised their equity over 95% by open offers.
