Madhvani Group to invest INR 560 crore in India

According to a report in the Business Standard, Madhvani Group, one of the largest diversified private-sector groups in East Africa, plans to invest around INR 560 crore to open seven hotels targeting religious tourism in India. Going forward, it will also look at listing its hotel business in India.  Each property will have about 100-120 keys and will attract an investment of around INR 75-80 crore, said Roni Madhvani, Director, Madhvani Group. Recently Madhvani Group, had inaugurated a new property, which will be managed by Sarovar Hotels & Resorts, at the temple town of Tirupati. The Group is also looking at destinations which include Rishikesh, Shirdi, Purvi, Varanasi, Uttarakhand and others.