Adamo Hospitality Plans 10 Luxury Hotels at an Investment of Rs. 800 Crores

Harsh Ajmera recently told newsmen that they plan to set up 10 new wholly owned hotels across the country at a total investment of Rs. 800 crores. The hotels will be in the five and four-star category and will become operational in the next five years. He said each hotel will be fully owned, operated and managed by Adamo. Currently Adamo have hotels with 240-room capacity and these new hotels will add further 650 new rooms. Surprisingly, funding for the projects will be from internal sources of the Ajmera group, owner of Adamo, rather than external finances.

According to Mr Ajmera, the first hotels will come up in the Northern and Western parts of India. Lokhandwala complex in Mumbai will see an Adamo hotel start operations in November this year with another in Panchgani to follow.

Adamo Hospitality has ambitious plans in the hotel industry. Besides setting up and operating hotels, the chain also plans to take up hotel management on behalf of others. At present, Adamo Hospitality has hotels in Matheran, Nathdwara and Goa with a total capacity of 240 rooms.

The Mumbai based Ajmera Group is active in finance, construction and pharmaceuticals with Adamo being its hospitality business wing. The group’s resorts in three locations have gained popularity for offering luxurious project experience and quality services that should carry over to the 10 new planned projects.