Mfar Group of Hotels embarks on Rs 15 billion expansion plans

New Delhi: Mfar Group of Hotels plans to spend Rs 15 billion to build luxury hotels and resorts across India and overseas over the next five years, Abdul Rasheed, director of MFar Group of Companies, said.

"A Rs 300 crore five star hotel with 210 rooms is ready at Velachery in Chennai and will be opened by June this year and a Rs 75 crore resort is coming up at Thekkady in Kerala," Abdul Rasheed, Director of Mfar group of companies, told reporters.

These two projects form a part of the Rs 1,500 crore expansion plans, according to a media report.

Sixty cottages are being constructed at the Thekkady resort, which would be ready by this year end, he said.

The group has also begun construction of Rs 300 crore hotel in Muscat in Oman, which is expected to be completed by 2013.

There are also plans to construct hotels in Bangalore, Hyderabad and Colombo, he said.

The group's International convention centre, being run by Le Meridien here, had been adjudged the Best Hotel based five star convention at the National Tourism awards for 2010-11. The award was received by Dr P Mohammed Ali, Chairman Mfar hotels at New Delhi recently.

"Le Meridien Kochi, managed by Starwood Hotels and Resorts worldwide, as a hotel played a major role in transforming Kochi from just a tourist destination to a dominant MICE destination," Rajesh K Madan, General Manager said.

Le Meridien, a five star deluxe hotel with 223 rooms, is the first hotel in Kerala to tap the MICE business and has hosted conventions attended by 10,000 delegates and weddings.

The group had invested Rs 80 crore recently for renovation of its convention centre here.

The multi pronged Mfar group is tapping into key industries in emerging India with a slew of projects that include IT business parks, luxury hotels, commercial and Retail buildings, he said.