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Real estate developer Assotech Ltd., proposes to invest Rs 600 crore to
develop around 2,000 hotel rooms over the next five years. The company is
setting up luxury hotels at Rudrapur, Haridwar and Bhubaneswar, while one
more is being planned at Rajgir. These hotels, being launched under the
Radisson brand in association with Carlson Hospitality will entail an
investment of around Rs 250 crore.
Assotech has also earmarked an investment of around Rs 150 crore for the
development of a 400-bed multispecialty hospital at Patna. Also in the
pipeline are similar hospitals at Gwalior and Ghaziabad. The projects will
be funded through a mix of internal accruals, debt and private equity.
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