Luxury hotel chain Sayaji will invest Rs. 100 crore for construction of a new five-star hotel.

"The company will invest Rs 100 crore for construction of a new five-star hotel in the city," Sayaji Hotels Managing Director Raoof Dhanani told reporters here after launching its restaurant "Chopstick City".

This is the second restaurant of the group offering Chinese cuisine after it opened first one in Indore.

He added, "The company is expanding in Thane, Pune and Nasik (Maharashtra) while deal is on the verge of finalisation of taking over a hotel in Kolhapur on rental basis."

He further said, "Demand for hotels and restaurants is increasing at a very good rate in cities like Vadodara, Pune, Thane, Nasik and Kolhapur. The tourists traffic from various parts of the country and abroad to Vadodara is expected to go up because of its inclusion in list of smart cities."