Roots Corporation of India (RCL), an arm of Indian Hotels Company Ltd, has decided to pump about Rs 80 crore in India.

According to the company, the main aim of the investment is to set up seven to eight hotels during the current fiscal.

The sources said that the cost would vary between Rs 8 crore and Rs 10 crore for each hotel.

After considering potential of the market, profile of clientele and peak occupancy period, the company has opted western and southern states, including in Pune and Chennai for locating the proposed hotels.

In a separate release, the company has informed that the expense of each venture would depend on the location.

The company stated in a communiqué that the hotel industry has a great potential to grow, which will contribute six per cent to the national GDP in coming few years.

The sources said that the company is also searching options to build 60-70 hotels in various locations across the country in the next four-five years.

Recently, the company inaugurated the Ginger brand of hotels, the first in the state of Jharkhand. Rs 11.5 crore was the cost of the hotel, which has been established over 1.3 acres land.