Greenwood Group to invest Rs 500 crore for hotels in northeast

The Greenwood Hotels and Resorts Group on Tuesday announced that it will invest Rs 500 crore to roll out hospitality projects across Northeast over the next 10 years.

The company did not share details like the total number of hotels or the exact locations. Image Courtesy: Reuters.

The Greenwood Hotels and Resorts Group on Tuesday announced that it will invest Rs 500 crore to roll out hospitality projects across Northeast over the next 10 years.

The company has launched its latest property 'The Greenwood Guwahati' in the business segment here at an investment of Rs 100 crore.

"Despite being a gateway to Northeast India and a major trade centre, Guwahati lacks sufficient international level hospitality options for business and trade requirements. We are trying to address this need gap," The Greenwood Group managing director Himanshu Kalita said in a statement.

TRENDING NOW

'The Greenwood Guwahati' will contribute significantly in providing better hospitality infrastructure and subsequently bolster the economic development of the entire Northeastern region, he added.

This new property is equipped with 48 luxury rooms, meeting facilities, gymnasium, spa and swimming pool. The hospitality firm also announced plans to expand its operations across the region by setting up new properties.

"The Group is enthusiastic about broadening its presence across all eight states of Northeast India with a substantial investment of Rs 500 crore over the next 10 years," it added.

The company, however, did not share details like the total number of hotels or the exact locations.

The Greenwood Group already manages two properties -- The Greenwood Resort, Guwahati, which caters to the leisure and resort segment and 'The Greenwood, Tezpur', which is a boutique hotel.

"With the experience of 10 years in the hospitality industry since 2013, The Greenwood Group aspires to capitalise the developments attracting entrepreneurs, investors and industry leaders from across the nation and the globe," the statement said.

Catch the latest stock market updates here. For all other news related to business, politics, tech, sports, and auto, visit Zeebiz.com.

TAGS:

hotels