Monday, December 04, 2006

Regency to build 50 more hotels

Regency Group is all set to come up with a 50 hotels in the next five years and also a partial initial public offering by the end of next year.

Regency Group has just started a hotel management company in Dubai ‘Oryx’. Oryx is a partnership with the Dubai government.

Regency has revealed plans of 12 to 14 hotels in the UAE and plans to begin with three-star hotels worth around $70 to $80 per room.

Regency is holding talks with several developers in the UAE including Tat-weer. Regency has also revealed plans to expand into Asia, especially India.

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