Saffron Group, the Delhi-NCR based real estate group, which has recently forayed into hotel business by launching the maiden hotel property – Comfort Inn Saffron Kiran at Faridabad, NCR, plans to make more investments in the hospitality sector primarily in Northern India.
Speaking to reporters on the sidelines of the opening of their maiden venture here, Sunil Sharma, CEO, Saffron Group said that the company will invest to the tune of Rs 200 crore in setting up budget hotels in places across Northern India in the next few years.
“We are very passionate about hotel business and we want to make it more functional in the next 10 years,” he said. The company plans to set up budget/mid-scale hotels in Uttarakhand and Himachal Pradesh where it owns lands. Besides, the company is keen to set up property in Goa as well.
Apart from exclusive hotels, Saffron Group, will be investing in a mixed-use development comprising convention hall, serviced apartment and a hotel at Mehrauli-Gurgaon Road in NCR. “The concept has already been finalised and hopeful of beginning the project in the six months. The project will be coming up in five-acre land,” he said.
