INDIA BUSINESS WORLD - APRIL 1^st - APRIL 15^th - 2008

ROYAL ORCHID PICKS UP 50% STAKE IN GOA HOTEL

Royal Orchid Hotels has announced that it has acquired a 50% stake in Galaxy Beach Resort located at Utorda beach in South Goa. Galaxy Beach Resort, a boutique beach hotel with 65 room capacity, will now be owned by Royal Orchid along with Vascon Engineers, a release said. "The in-vestment in the property in Goa reflects our aggressive growth plans. Goa is a national tourism hub and the acquisition further strengthens our presence in the tourism circuit in addition to our hotels at key business locations across India", Royal Orchid chairman and managing director Chender Baljee said. The resort will be upgraded in the coming months. The upgradation is expected to be completed by this October. "We are keen in improving this Goan hotel and expanding our footprint in the tourist destination in India", he said. Royal Orchid Hotels primarily operates five, four star, budget, leisure getaways and heritage hotels. It currently operates 10 hotels in Bangalore, Mysore, Pune, Jaipur and Hyderabad.