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Sarovar Hotels is exploring the option of going in for an initial public offer (IPO) or a second round of private equity funding to raise Rs 250-300 crore for funding its domestic expansion plans. Planning to set up 23 new properties at an investment of over Rs 500 crore. About five of the new properties would be upper-end four-star Park Plazas, two will be three-star full service Park Inns, four Sarovar Premiers and 3-4 Porticos, while the rest would be the budget brand, Hometel. Sarovar is affiliated to Carlson Hospitality Worldwide. This association makes the company the master franchisee for Park Plaza and Park Inn hotel brands in India. WOULD YOU INVEST IN THE IPO? Leave your comments.... | 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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