Wormwood Hotels plans Rs100cr investment on expansion

Kolkata: City-based Wormwood Hotels announced an investment of Rs 100 crore aimed at expanding its footprint across Bengal and beyond. The company claimed that the expansion was set to boost the local economy and generate 500 direct and 800 indirect employment opportunities.Speaking on the group's roadmap, founder Soumya Sengupta said the immediate focus was on the home state. "Our target is to invest around Rs 50 crore in the next three months," Sengupta said, adding that the remaining money would be deployed in due course.
The brand is currently scouting for prime properties in Kolkata while finalising new openings in Siliguri, Shantiniketan, Digha, Newtown and the Sundarbans.Currently, Wormwood Hotels operates in Puri, Bhagalpur, Darjeeling and Varanasi. However, the founder's ambitions extend far beyond the current portfolio. Asked where he saw the brand five years from now, Sengupta said, "We will have at least 25 hotels in our pocket."