Mumbai: Mirah Hospitality plans to invest Rs 200 crore over the next three-years in Citrus Check-Inns Ltd its 'Flexi-stay' travel business.

"We are adding 1,000 more keys across 10 hotel properties at leisure, business and pilgrimage locations in the next 3 years. The investment of Rs 200 crore will be made through internal accruals and strategic investments through institutional finances," Citrus Check-Inns CEO Somnath Pal told here.

The company has seven operational hotel properties and more than 100 food & beverage outlets for Citrus Check-Inns' plan holders.
 
"With this investment, the business is likely to grow several-folds over the next one-two years' time, while keeping our stringent quality standards intact," Mirah Group Managing Director Gaurav Goenka said.

Citrus Check Inns has evolved as holiday ownership company, which has created a new category called 'Flexi-stay' which pioneers in a multi-sta model based on popular points system.

Flexi-stay is an investment to allocate holiday fund for the next 5, 10 or 15 years at the present value of hotel accommodation and shield against the rising prices, Pal said.

The Rs 800-crore Mirah Group is a diversified group engaged in real estate development, hospitality, travels, wind energy generation, textiles and international trading.

(Agencies)

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