Hotel Industry blooming

Viceroy Hotel in Vizag:
Hyderabad-based Viceroy Hotels has embarked on a Rs 800-crore expansion plan to set up hotels in Chennai, Bangalore and Vizag.

“About one-third of the funds would be raised through equity and the rest via debt,” Viceroy Hotels vice-president Ravi Krishnan told ET. The Anil Dhirubhai Ambani Enterprise (ADAE) has recently picked up about 6% stake in the company while investor Rakesh Jhunjhunwala has picked up about 13.5%.