After building hotels for the likes of Tata Group (Indian Hotels Co Ltd) and Oberoi Group (EIH Ltd) for years, infrastructure major Larsen & Toubro (L&T) is setting up its own. According to a report published in DNA, The company has identified four markets for its hospitality business foray. The hotel projects, including budget, mid-market, business hotel, five-star and serviced apartments, are expected to be rolled out in cities like Navi Mumbai, Chandigarh, Bangalore and Chennai. L&T officials refrained from making an official statement. The hotels are being developed through the special purpose vehicle (SPV) route, either directly (L&T Ltd) or through a group company (such as L&T Urban Infrastructure Ltd), the report added.
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Infrastructure Major Larsen & Toubro Entering into Hotel Industry
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