<p>Nepal-based CG Corp Global is in advance talks to acquire a publicly-listed hotel brand in India, a top company official has said.</p>.<p>The company also plans to add 26 new managed hotel properties in the country expected to be operational in 2022.</p>.<p>"We are in the process of acquiring a very well known brand of a listed hotel company... It will give us a much bigger bandwidth in the hotel business than we currently have," CG Corp Global Chairman Binod Chaudhary told PTI.</p>.<p>The two companies are at the level of finalising commercial agreements, Chaudhary added.</p>.<p>CG Corp Global - which operates in the hospitality business through brands including The Fern, The Fern Residency, The Zinc Living and Beacon - is looking to acquire the hotel brand that owns and operates hotel properties.</p>.<p>"Fern brand at present is a pure management company...Now, we are looking at the right balance between asset-light and company-owned properties. This brand (we are looking to acquire) has assets and into the management of hotel operations…We will add about 400 rooms through this acquisition," he said.</p>.<p>At present, CG Corp Global operates 112 hotel properties, with 6,013 rooms in 10 countries.</p>.<p>The company plans to add 29 properties, with 2,233 keys. Out of these, 26 hotel properties in India and these properties are expected to be operational by 2022.</p>.<p>The rest three are owned by CG Corp Global with joint venture partners to come up in Nepal, Bhutan and Thailand.</p>.<p>Chaudhary said the company is in the process of a big merger and acquisition in the food space.</p>.<p>"It is a listed FMCG company, so I can't share more details at this time. We are looking at this company to grow and consolidate our food business," he said.</p>.<p>CG Corp Global also plans to invest Rs 200 crore to set up two new manufacturing plants in West Bengal and Uttar Pradesh.</p>.<p>The company's FMCG arm CG Foods is eyeing Rs 1,500 crore revenue from its popular noodles brand Wai Wai in one year as its aims to become a multi-products company.</p>
<p>Nepal-based CG Corp Global is in advance talks to acquire a publicly-listed hotel brand in India, a top company official has said.</p>.<p>The company also plans to add 26 new managed hotel properties in the country expected to be operational in 2022.</p>.<p>"We are in the process of acquiring a very well known brand of a listed hotel company... It will give us a much bigger bandwidth in the hotel business than we currently have," CG Corp Global Chairman Binod Chaudhary told PTI.</p>.<p>The two companies are at the level of finalising commercial agreements, Chaudhary added.</p>.<p>CG Corp Global - which operates in the hospitality business through brands including The Fern, The Fern Residency, The Zinc Living and Beacon - is looking to acquire the hotel brand that owns and operates hotel properties.</p>.<p>"Fern brand at present is a pure management company...Now, we are looking at the right balance between asset-light and company-owned properties. This brand (we are looking to acquire) has assets and into the management of hotel operations…We will add about 400 rooms through this acquisition," he said.</p>.<p>At present, CG Corp Global operates 112 hotel properties, with 6,013 rooms in 10 countries.</p>.<p>The company plans to add 29 properties, with 2,233 keys. Out of these, 26 hotel properties in India and these properties are expected to be operational by 2022.</p>.<p>The rest three are owned by CG Corp Global with joint venture partners to come up in Nepal, Bhutan and Thailand.</p>.<p>Chaudhary said the company is in the process of a big merger and acquisition in the food space.</p>.<p>"It is a listed FMCG company, so I can't share more details at this time. We are looking at this company to grow and consolidate our food business," he said.</p>.<p>CG Corp Global also plans to invest Rs 200 crore to set up two new manufacturing plants in West Bengal and Uttar Pradesh.</p>.<p>The company's FMCG arm CG Foods is eyeing Rs 1,500 crore revenue from its popular noodles brand Wai Wai in one year as its aims to become a multi-products company.</p>