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Phoenix chalks expansion plan worth Rs 500 crore

Shalini Kakkad 25 October 2008

Phoenix chalks expansion plan worth Rs 500 crore Bangalore-based Phoenix Group Global, a multinational conglomerate, is planning to spend over Rs 500 crore in various hotel, real estate and floriculture projects throughout the country.

The company plans to fund the proposed investment through debt (70%) and equity (30%).

According to sources, the company would launch hotel projects under its new brand Zuri Hotels and Resorts in Bangalore, Chennai, Ahmedabad, Kochi, Nagpur and Visakhapatnam.

The company currently manages two hotels in Goa (Radisson White Sands Resort and Country Inn & Suites) and one in Kumarakom, Kerala (Radisson Plaza & Spa).

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