Kochi-based Muthoot Pappachan group has decided to make an investment of around Rs 750 crore to develop hotel properties in Kerala and Tamil Nadu. As per a statement of the MD of Group, Muthoot Pappachan is planning to develop as many as seven hotel projects in the two states. Group MD, John Muthoot informed that Muthoot Pappachan will undertake four premium hotel projects in Kerala. The proposed hotel properties are expected to come up near Kovalam, Alapuzha, Bekal in Kasargode district and Kochi.

 

Speaking about the Kochi property, the MD said that the project will be managed by Taj group and it will be a five-star business hotel. Informing more, he said that the project at Kochi will be completed within the next few months. Apart from these, the group will also set up 122 service apartments near Thiruvananthapuram international airport. John Muthoot said that service apartment project at Kerala will be completed by 2011.

 

Talking about Tamil Nadu projects, John Muthoot informed that the group will set up three properties in the state. The proposed properties in Tamil Nadu are expected to get ready by 2011. Muthoot Pappachan stated that the group has been negotiating with international hospitality brands for managing the properties in the state.