Daijiworld Media Network (With inputs from Business Standard)

Mangalore, Feb 25: As Indian economy is bouncing back and real estate picking-up, top real estate promoters of India are coming to the city with investment plans. At least two top grade hotels are set to launch in Mangalore by April 2010.

Sagar Ratna, a well known brand of restaurant chain in North India is all set to into the hotel industry by opening its first three-star hotel in Mangalore next month. Having 24 outlets of its own and 27 on franchise, the restaurant chain has planned to open eight more franchise outlets in the current financial year in states including Rajasthan and Punjab, informed executive officer of the company Joy Joseph. 

Regarding overseas expansion of the company, he revealed that the company has already opened its outlets in Singapore, Canada, UK and next month an outlet would be opened in Bangkok followed by another one in United States. Initially the company strictly served only South Indian food, but now on the demand of customers, variety of food including North India and Chinese have also been added to the menu.

Construction of the hotel has already been completed and next month it would be inaugurated in Mangalore, Joseph said revealing that there would be 84 rooms in the hotel. Sagar Ratna will be located near Rambhavan Complex in the heart of the city. 

Another hotel apartment under construction on Balmatta – Bendoorwell road is also set open within the next couple of months. Also, long awaited Hyat five star hotel brand is all set to step into the city. The construction works will begin in the next few weeks near Maryhill, Yeyyadi here. 

Reliable sources informed Daijiworld that at least 15,000 residential flats, five shopping malls, four hotels including three star and five star and three schools of the national brand are expected to be launched in the city within next five years.