Bangalore-based hospitality firm Phoenix Group Global has announced that the company has set aside Rs 450 crore to set up its branded luxury hotels and resorts and expand its floriculture business in India.

The group, which runs three hotels across the country, now proposes to come up with its own hotels and resorts, under the Zuri brand.

To expand its floriculture business in India, the company envisages pumping Rs 150 crore.

According to the sources, Phoenix will open its first luxury hotel in Bangalore in the coming January and has already invested Rs 200 crore, for buying of land and the construction of hotel.

While lecturing on the plans, Mr Abhishek Kamani, director of Phoenix Group stated, “We are investing another Rs 100 crore to build our next hotel in the city itself in Devanahalli near the airport.”

The group is also eyeing expanding its hotel chain across the country in the near future.

Besides, it is also planning to enter the northern region.