Pride Group of Hotels will invest over Rs 600 crore over the next 2-3 years to strengthen its portfolio through greenfield projects and acquisitions, said a top company official. The investments will include a new project in Goa, acquisition of a hotel in Mumbai, and addition of inventory to its existing property in Nagpur.
“When we started off in the 1980s, we grew by greenfield projects and by acquiring existing properties and renovating them to our specs. In the past five years, we went into management model for faster growth and have built a portfolio of 12 operational hotels,” said SP Jain, managing director, Pride Group of Hotels. The company has all its hotels under three brands —Pride Plaza (5-star), Pride Hotel and Resort (4-star) and Pride Biznotel (3-star).