By BS Reporter
Zuri Group Global, a multinational company engaged in floriculture, hospitality and generation of green energy, plans to expand its operations in India and abroad with a total investment outlay of Rs 1,200 crore over the next five years.
The group, which currently has four resorts and hotels in India and two overseas, will start five to six luxury hotels in India within next five years. The Rs 200-crore, 150-room, 5-star hotel at Devanahalli in Bangalore, which is under construction, will be commissioned by the mid-2012. Zuri has a high-end luxury resort and a spa at Kumarakom in Kerala and plans to start a new hotel in Kochi.
According to Priti Chand, assistant vice president of the company, the group had identified several locations like Delhi, Hyderabad and Chennai, to set up new luxury hotels, giving greater thrust to the hospitality division of the group. She said the group was open to setting up its own properties wherever it was viable to do so.
The group will also focus on a management contract model for hotels owned by other groups. The group has set up a separate division, Zuri Hotel Management Services (ZHMS) for taking up the management of hotels.
The new division had already tied up with a few hotels in the North-east and will start managing the affairs soon. She said negotiations were on with promoters of hotels in cities including Hyderabad, Chennai and Mysore. The company plans to sign 12-15 such contracts within a short period.
To enhance its capital base, the group would either go for an IPO or private placement route or both, she said. The company, which has a turnover of Rs 100 crore in India and Rs 150 crore internationally, has started operations in green energy, focusing on wind, geothermal and waste materials. She said twenty wind mills were now operational in Tamil Nadu and more would be added soon. Electricity based out of geothermal technology is being produced in Africa by the group.
The Zuri Green Energy (ZGE), the division which operates in this area, will focus mainly on India and Kenya. The group began its operations India operation in 1999 with their first hotel in Goa. Its core business is floriculture with Primarosa Flowers based in Nairobi in Kenya presently exporting over 150 million roses a year to countries around the world.