The Chennai-based Sabari Group is continuing with its expansion plans in India’s budget accommodation segment, Anil Mathur reports. The group, headed by KVR Ramani, has acquired the Nilgiris Nest Hotels in Chennai, Bengaluru and Coimbatore, at a total cost of INR950 million (US$19.7 million).
The group also plans to invest a further INR4 billion by 2012 in new and existing hotels, taking the group’s inventory up to 1,000 rooms.
Kodaikanal, the hill resort in Tamil Nadu, will also have Sabari presence with a 50 room hotel having been acquired and currently under refurbishment.
Ramani expects Sabari’s turnover to rise to INR1.5 billion, up from the current INR350 million.
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