Apr 11, 2007

RIL checks into hotels business

The Mukesh Ambani-controlled Reliance Industries is entering the supply-deficient hospitality business and is in talks with big international names such as Walt Disney, Ritz Carlton and Four Seasons for managing some of its hotels.
The diversified group intends to set up all categories of hotels — luxury, business and budget — across the country. Within the luxury category, it is also looking to set up hotels with themes, such as those run by Disney in the US.

Having entered consumer retail and special economic zones in the last two years, Reliance considers hospitality a natural complement to its existing businesses. The corporate structure of the hospitality foray — whether it will be made through a separate company or a division — could not be ascertained.

BUY RELIANCE IND :

THE 1 YEAR PRICE TARGET FOR THE STOCK IS 1750 +

POSITIVE TRIGGERS :

ENTRY INTO RETAIL SECTOR.
SCOUTING FOR TAKEOVER IN TIME TO COME
ENTRY IN PHARMA & MEDICAL SPACE
DEVELOPMENT OF SEZ IN NORTHERN STATES.

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