The Visakhapatnam-based Daspalla group promoted by Jubilee Hills Resorts Ltd will make its debut in Hyderabad with the opening of a four- star hotel in Hyderabad. The Hotel Jubilee Residency to be built with a total investment of Rs. 32 crore is likely to be completely functional by June, this year.
The hotel will feature 110 rooms, 2 food & beverage outlets and banqueting facilities. Daspalla Group currently operates mid market hotels in Visakhapatnam, Guntur, Kakinada. M Raghavendra Rao, Chairman, Daspalla Group said that his group has invested Rs 11 crore, and the remaining will be acquired as a loan from the State Finance Corporation and Andhra Bank.