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After soft-launching its E-Inn brand of smoke-free, alcohol-free and meat-free hotels in Bangalore’s Electronics City, Akkayya Consultancy Services (ACS) intends to take the concept across the country in the next seven years. The plan is to set up over 100 E-Inn properties (to be precise, 108, a sacred number for Hindus). The overall investment envisaged is over Rs 5,000 crore. Chittaranjan A Hegde, director- hospitality for ACS, told DNA Money that the parent company’s forte is in infrastructure business and it had considerable land bank across the country. “The existing real estate will be used to set up E-Inns and going forward, (the company will also pursue site acquisitions.” The expansion would be financed from internal resources in the initial 2-4 years, though the management may also explore options like debt funding, venture capital and raising money from the capital markets. The idea is to cater to the growing number of travellers who prefer to stay away from either or all of the vices. Besides, globally people are shifting towards vegetarian culture, he added. ACS’ parent company, SSJV Projects Pvt Ltd, promoted by Sri Shankaranarayana Construction Co, already operates Sai Vishram, a 19-cottage boutique beach resort spread across 24 acres near Byndoor, about 130 km from Mangalore. Source : dnaindia.com | Daily Extras! Eclat Me | Success Tip of the Day| 1DailyDiversion| Eclat Web - Must Visit Websites! A Beautiful Pic Every Day! Word of the Day| Quotation of the Day| Make Money! Immigration News! Desire- WOW Stuff! Stock Mkt Updates |
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