Sahara India Parivar on Thursday announced the launch of Sahara Global, a travel and tourism company, targeting a turnover of Rs 200 crore (Rs 2 billion) from services in inbound and outbound traffic and medical tourism in its first year.
"We will invest Rs 300 crore (Rs 3 billion) over the next five years and it would ainly be from internal accruals and Sahara Parivar," Romi Datta, CEO, Sahara Global said.
The company, which would be operational this month end, would also explore acquisitions and manage 52 hotel properties over the next three years, besides marketing 3,000 hotels in domestic destinations under its own brand, he said.
"Sahara Global intends to double its turnover of Rs 200crore in the first year over the next three years," Datta said, adding that with investment profile benefiting from both Sahara Global directly and group companies indirectly, the new company is looking at aggressive growth.
The company would be providing travel service solutions across the country through its 665 offices in 165towns. Sahara Global has opened offices in New Jersey, London, Los Angeles and San Francisco and would open offices in UAE and Singapore soon to market India abroad.
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