Duet India Hotels in partnership with Intercontinental Hotels Group (IHG), which owns international brands such as Holiday Inn and Crowne Plaza, will be acquiring 10 more hotel properties in India by investing nearly $200 million, according to a top official.
Talking to The Hindu, Naveen Jain, President, Duet India Hotels said, “We have already acquired nine properties. Six hotels are operational and three more hotels will start functioning in three years’ time. Besides, we are scouting for properties to set up 10 more hotels. So far, we have invested $300 million and are in the process of investing another $200 million. Duet India Hotels had entered into a 20-year joint venture with IHG to develop a portfolio of 19 Holiday Inn Express hotels.