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Royale Manor Hotels And Industries Ltd. Company History and Annual Growth Details
The company was incorporated on 19th June, 1991 as Royal Manor Hotels Limited in the state of Gujarat at Ahmedabad. The name was subsequently changed to Royale Manor Hotels and Industries Limited on 1st, November, 1991. The company was established for the purpose of putting up hotel projects in India and the first project for five star hotel is conceived at Ahmedabad, Gujarat.
The project is being assissted by the Industrial Development Bank(IDBI) of India and the Tourism Finance Corporation of India(TFCI). IDBI has sanctioned a term loan of Rs. 607 lakhs and TFCI has sanctioned a term loan of Rs.450 lakhs for the project. The five star hotel is being set up in technical collaboration with The East India Hotels Limited, the flagship company of the Oberoi's.
At the time of going public, the project was under active implementation as the civil work of the hotel had already commenced.