The three hotels have been identified by the agency as the Fab Hotels group. "The attached three hotels are owned by Libra Realtors Pvt Ltd, Deewan Realtors Pvt Ltd, Rakesh Kumar Wadhawan, Romy Mehra, Libra Hotels Pvt Ltd and its directors," the agency said in a statement.
The cost of land has risen and allowing more built up and coverage area is the key to reducing the investment cost per room. That would mean the motel or the resort owner can offer rooms at an affordable price.
The company has inked the deal with Xander Investment Management, the owner of the commercial office building Pinehurst at Bengaluru’s Golf Links Business Park.