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Investment Sep, 17 2014

Wine-maker Grover Zampa to invest Rs 100 crore in hotel business

India\'s second largest wine manufacturer will build a 100 room five star hotel in Nashik, Maharashtra.

By Franchise India Bureau
Wine-maker Grover Zampa to invest Rs 100 crore in hotel business

Grover Zampa, the second largest wine manufacturer in the country is planning to invest Rs 100 crore to set up hotel in Nashik, Maharshtra, as reported by Business Line.

The company is planning to build a 100 room five-star property. “A few international hospitality chains have already shown interest in operating the hotel,” said Sumedh Singh Mandla, CEO, to Business Line.

The company is also planning to open another hotel near Bangalore.

Grover Zampa sells about 1.5 lakh cases of wine. The total size of the market is about 20 lakh cases a year. But 70 per cent of Grover Zampa’s sales come from the premium category, and the company is expected to turn profitable this year.

The company has also tied up with former tennis ace Vijay Amritraj, who has invested in developing a wine brand named after him.

Mandla said the next 2-3 years will be crucial for the company as it will launch several products in the premium category. It will also expand into six more states and as many countries during this period. The company also expects to make sparkling wine from its Bangalore vineyard this year.

Related: Danone to invest Rs 150 crore to expand in India

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