980 cr Hotel Investment - Landmark Group

Follow Prabhjot Bedi on Twitter Citymax India, the hospitality company of Dubai-based Landmark Group, plans to invest close to 220 million dollars (about Rs 980 crore) to establish a dozen three-star hotels and leisure-cum-entertainment zones in India over the next five years.

"In the coming three years, we will open about a dozen three-star hotels with 150 rooms in Tier I and II cities. Each hotel will have an investment of about 10-15 million dollars," Citymax India managing director Ravi Saxena told.

Citymax has already identified about 5-6 properties for its three-star hotels, Saxena added.

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