Phoenix Group Global on Friday(17-10-2008) announced the launch of its own brand of luxury hotels,Zuri Hotels and Resorts. The company plans to spend Rs.450 crore to built branded luxury Hotels and Resorts. The Bangalore based group that currently runs three hotels across India under a franchise agreememt with Carlson Hospitality is also planning to expand its Floriculture business in India by investing Rs. 150 crore and setup farm in South India.
The group was focussing on Tire-II cities to open hotels, ie in Kochin, Mysore, Nagpur and other small metros. they also planned to enter the Northern states, starting with Delhi and its adjoining Towns. They have also raised funds to finance the expansion through a consortium of investors and debts.