Mfar Hotels and Resorts to invesr Rs.1500 Crore over next 5 years

The Mfar Hotels and Resorts Ltd will invest Rs 1,500 crore over the next five years to set up hotel projects in India and abroad.

The company is coming up with hotel projects in Thekkady, Muscat, Colombo, Hyderabad, Chennai and Bangalore. The 5-star hotel project at Velachery in Chennai will be completed by June, followed by the Rs 75-crore Thekkady project. The 5-star Thekkady resort will have 60 cottages. Mfar's 5-star hotel project in Muscat will be ready by 2013 end.