Tuesday, June 18, 2024

DNC Group plans to set up 12 hotels by FY27

DNC Group, which has forayed into hospitality sector to cater to growing number of tourists in India, is planning to have 12 properties by FY27.

While it will have 5 Star hotels in metros, the strategy is to have boutique and budget hotels in cities of tourist attractions in India. The company’s targeted customers base include urban elite, business community, tourists on pilgrimage, a statement said.

The objective is to have footprint across the country with about 25 locations either owned, leased and franchised under DNC brand, the statement added.

“We are eager to grow our business into the hospitality industry. We intend to develop properties with customer-focused efficiency for visitors from India and abroad. Sustainability and cutting-edge technology will be at the forefront,” said D Naresh Chowdary, founder, DNC Hospitality and DNC Resorts in a statement.

DNC Group said it planned to enter into hospitality sector to capture the opportunities in the fast-growing industry. “As we are already in the core business of infrastructure, developing the new projects in hospitality sector will become a big plus,” it said.

The plan is to invest about ₹500 crore through debt and equity and to clock a revenue of ₹500 crore in five years of operation.

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