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Bharat Hotels plans expansion; eyes Dubai

After having seven properties across the country in a short span of two years, Lalit Suri-promoted Bharat Hotels is now eyeing overseas market including Dubai for setting up hotels.

"We are now planning to open hotels in overseas market. We will be first setting up a hotel in Dubai for which we are already in talks with Dubai authorities," Lalit Suri, managing director said.

Bharat Hotels is running seven properties including the recently-acquired ITDC Ashok Hotel, Bangalore, and Luxmi Vilas Palace, Udaipur, Jaipur apart from one each in Kashmir, Delhi and Mumbai.

"We have approached Rajasthan government for acquiring land to set up a hotel," Suri said adding that the company was keen to set up another hotel in Kashmir if the law and order situation in the valley was back to normal.

Meanwhile, the board of directors of the company has also passed a resolution seeking delisting of the company from Indian bourses and the company has now approached Securities and Exchange Board of India for necessary approvals before launching an open offer.

Lalit Suri and his investment firms have already indicated their willingness to launch an open offer for increasing their stake to beyond 90 per cent as a prelude to the delisting.

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