Bloom Hotels plans 10 properties for Western India

Ten new properties planned for the state of Gujarat in India are expected to cost an estimated Rs 100 crore. Photo credit: Bloom Hotel Group

India's Bloom Hotel Group is looking to open 10 new properties in the state of Gujarat over the next two to three years for an estimated Rs 100 crore. Target markets include Surat, Baroda and Gujarat International Finance Tec-City. Within the next two years alone, the company hopes to add 1,000 rooms in the state to its portfolio.

"We see fantastic potential across the state with several more hotels already signed," Bloom Hotel Group COO Sanjeev Sethi said in a statement, according to news service PTI

Bloom operates midsegment and boutique hotels across different locations in India, including Delhi, Gurugram, Goa, Bengaluru, Amritsar, Udaipur and Rishikesh. The company has reportedly set a target of operating 100 hotels by 2021 and also is exploring new markets, including Kerala, Pune, Jaipur and Varanasi, among others. 

FREE DAILY NEWSLETTER

Like this story? Subscribe to IHIF!

The hospitality industry turns to IHIF International Hotel Investment News as the must-read source for investment and development coverage worldwide. Sign up today to get inside the deal with the latest transactions, openings, financing, and more delivered to your inbox and read on the go.

A year ago, the group raised Rs 100 crore in a round of funding from Samena Capital, a principal investment group focusing on the subcontinent, Asia, Middle East and North Africa.

Suggested Articles

The company promoted Randy Taormina, former area managing director of the Dream hotels in New York City.

Celebrating the hotel company’s 45th year and his 80th on the planet, the owner/operator—and philanthropist—embodies a "hospitality heart."

The Hyatt Centric Reykjavík will not only be the first Hyatt-branded hotel in Iceland, but will be the company's debut the Nordic region as a whole.