US-based boutique hotel brokerage Molinaro Koger plans $300 mn India-dedicated hotel fund

The Economic Times reports that Molinaro Koger, a US-based hospitality advisory and brokerage firm, is raising a $250-$300 mn fund for investing in hotel assets in India. Molinaro Koger has facilitated around $3 bn of hotel transactions and funding globally in 2006. it will launching the fund towards the end of 2007. The fund would largely target greenfield hospitality projects, especially those in the under-served markets such as religious tourist hotspots and beaches. The fund will be managed by Molinaro Koger’s Capital Markets Group. Molinaro Koger opened its India office in January this year in Mumbai and is in the process of ramping up the India team that would include hospitality advisors, analysts and brokers. Abhijit Das will be the Managing Director of Molinaro Koger India.