Eridien forte group to invest Rs..1000 crore in 15 hotels
PRESS TRUST OF INDIA

New Delhi, July 15: UK hospitality major forte groupof hotels will invest Rs. 1,000 crore over the next three-five years in setting up 15 hotels in India.

He said India and the middle-east were instrumental inhelping the le meridien brand target of more than doubling the meridien gloabl portfolio in three years adding "we will like 250 hotels worldwide by 2003".

Lambart said that le meridien was well on its way to thistarget with 150 hotels and resorts expected to become operational in 55 countries by the end of this year itself.

"The brand recorded outstanding half-year growth(oct-mar) with global room sales up by 11 per cent and overall sales higher by nine per cent," lambart said.

In India, the group at present has five hotels in Delhi,mumbai (to be operational this month), chennai, bangalore and pune and will add two at Goa and Cochin respectively before the year end.

"First quarter 2000 results for our flagship Indianhotels showed a 14 per cent rise over the previous year," lambart said adding this indicated the potential for both tourism and corporate business in the country.

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