
Of the four properties, Amritsar (50 keys) and Shirdi (78 keys) will be managed by Berggruen Hotels whereas Kochi (150 keys) and Visakhapatnam (105 keys) will be owned and managed by Berggruen Hotels. The cost per key for these properties will be Rs 30 lakh. All these hotels will be branded as ‘Keys Hotels’, added Chatterjee.
Talking about the business strategy, Chatterjee said, “Going forward we will focus on asset-light mode of operations. However, we shall also take up franchise agreements. We are looking at expanding in Central Business Districts (CBD) locations and targeting business clientele. We are looking at locations like Mysore, Ahmedabad, Coimbatore.”