Sarovar Hotels and Resorts

It operates 36 properties in India including, Hometel, and three, four and five-star hotels under the Sarovar brand, and is also the master franchiser for Carlson Hospitality Worldwide’s Park Plaza and Park Inn brands.

It has around 33 properties under various stages of development, which will all come up in about three years.

“We are planning an investment of Rs 350-400 crore in the next few years to expand our chain of budget hotels and we need funds for this,” said Anil Madhok, managing directors, Sarovar Hotels.