Kolkata, May 26 (IANS) Rossell Tea is constructing a 305-room hotel in Delhi with an investment of Rs.170 crore along with Lemon Tree Hotels, a top company official said Wednesday.
‘We already have a hotel in Alleppey in Kerala, another is operational in Bangalore and now the Delhi project is on, which is expected to get completed by June 2012,’ Harsh M. Gupta, executive chairman of the company, told reporters here.
Each hotel is being developed by a separate special purpose vehicle floated in partnership with Lemon Tree Hotel Group, he said. The brand name of the hotels is Lemon Tree and the hotel group will run the management.
He said the company has till now pumped in Rs.300 crore into the hotel business. In future it would be targeting metro cities where there is tourist flow and business.
Rossell Tea posted loss of Rs.5.94 crore for the quarter ended March 31, 2010 compared to Rs.10.46 crore a year ago.
It produces 4.3 million kgs of tea every year, out of which 3.3 million kgs are of orthodox type. The company exports tea to countries like Iran, Germany, Middle East and New Zealand.
‘Our average realisation in 2009-10 from tea was Rs.159.68 per kg, up Rs.31.22 per kg from year ago level of Rs.128.46 per kg,’ Gupta said.
The company has five tea gardens in Assam.
rounak