Grid Logic Hotels to open 8 fine dine restaurants in Hyderabad, Bengaluru
HYDERABAD: Grid Logic Hotels and Resorts, part of Grid Logic group with interests in software, has forged franchise alliance with Tabla brand of fine dine restaurants, to open 10 restaurants in Bengaluru and Hyderabad, involving at least Rs 30 crore, said a top executive.
While two restaurants already are up and running in Hyderabad, Grid Logic is preparing to open 8 more restaurants by March next year.
Grid Logic Hotels is looking to raise $5 million from high net worth individuals (HNIs) for the upcoming restaurants and is in talks with some investors, apart from pumping in a part of funds from the promoters.
While the investments would be made by the promoters of Grid Logic Hotels and their partner investors, Tabla would train the kitchen staff and share their recipes. Tabla, an established Hyderabad-based fine-dining restaurateur, currently has five restaurants in Hyderabad and one in Bengaluru.
Pariekshit Madishetty, managing director, Grid Logic Hotels, said, “We will be opening two more restaurants in the next three months in Hyderabad, while talks are on for the rest. We also plan to enter cities like Mumbai, Pune and Delhi and are looking for investors from these cities so as to a have a local caretaker.”
Each hotel would entail an investment of Rs 3-5 crore depending on the location apart from some having banquet halls.
While two restaurants already are up and running in Hyderabad, Grid Logic is preparing to open 8 more restaurants by March next year.
Grid Logic Hotels is looking to raise $5 million from high net worth individuals (HNIs) for the upcoming restaurants and is in talks with some investors, apart from pumping in a part of funds from the promoters.
While the investments would be made by the promoters of Grid Logic Hotels and their partner investors, Tabla would train the kitchen staff and share their recipes. Tabla, an established Hyderabad-based fine-dining restaurateur, currently has five restaurants in Hyderabad and one in Bengaluru.
Pariekshit Madishetty, managing director, Grid Logic Hotels, said, “We will be opening two more restaurants in the next three months in Hyderabad, while talks are on for the rest. We also plan to enter cities like Mumbai, Pune and Delhi and are looking for investors from these cities so as to a have a local caretaker.”
Each hotel would entail an investment of Rs 3-5 crore depending on the location apart from some having banquet halls.
