Muthoot Group to launch two 5-star hotels

Chennai: Muthoot Leisure and Hospitality, part of the Kerala-based Muthoot Group, plans to invest Rs500 crore in putting up two 5-star hotels and a resort, according to media reports.

The company plans a 250-room five star business hotel in 2.5 acres of land in Kochi with an investment of Rs200-crore, and a five star beach resort on acres of land in Mararikulam, with an investment of at Rs90 crore.

The group also plans to start a five star business hotel in Coimbatore with an investment of Rs200 crore.

The Muthoot group currently owns one four-star resort-Muthoot Cardamom County-in Thekkadi, and ''Gold Star''-rated luxury houseboats in the backwaters of Kumarakom.

That apart, it owns a five-star property in Thiruvananthapuram called The Muthoot Plaza and another five-star resort in Kovalam run by the Taj group-Taj Green Cove.

The Rs14,000-crore Muthoot Group, apart from hospitality, has multiple business interests including banking and finance (the group''s flagship business), healthcare, education and real estate.