News

Mirah Hospitality to raise Rs 187 crore for expansion in India and abroad

  • Gaurav Goenka-owned
    Mirah Hospitality group is in plans to raise $30 million (Rs 187 crore) for
    expansion and acquisitions.
  •  
  • “The funds will be utilised for growing our current
    portfolio, finding new associations and keeping a war chest ready to grab some

    • Gaurav Goenka-owned
      Mirah Hospitality group is in plans to raise $30 million (Rs 187 crore) for
      expansion and acquisitions.
    •  
    • “The funds will be utilised for growing our current
      portfolio, finding new associations and keeping a war chest ready to grab some
      good brands,” Goenka told ET.
    •  
    • Currently, Mirah Hospitality’s portfolio include 45 outlets
      under its brands such as Khandani Rajdhani, Cafe Mangii, Falafel and the United
      Sports Bar and Grill, apart from being a strategic investor in restaurant
      companies that own Masala Library, Farzi Cafe, Smoke House Deli, Social and Mad
      Over Donuts.

    • The company is aiming to bring more international brands into
      the Indian hospitality segment. The group plans to take its flagship restaurant,
      Khandani Rajdhani to overseas locations, including Singapore and Dubai, over
      the next one year.

    • Currently, it has a Rajdhani outlet in Oman. Mirah Hospitality,
      which also owns the midscale Citrus Hotels & Resorts, will invest Rs 150
      crore over the next three years to increase its portfolio to 40 hotels.

    • “The hotel expansion will be done through a mix of debt and
      equity,” Goenka said, adding that the company is scouting for management
      contracts to scale up its presence faster. The company will expand its hotels
      in Mumbai, Delhi, Kolkata and industrial townships. Mirah Hospitality expects a
      turnover of Rs 108 crore for the year ended March 2015.
    •  

     

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