India, June 29 -- Real estate company Omaxe has launched a dedicated hospitality business vertical and plans to invest around Rs.6,200 crore over the next five years to develop 19 hotels spanning nearly 5 million sq ft across five states. The proposed portfolio includes two hotels each in Ayodhya, Kaushambi and Vrindavan, three in Lucknow, and one each in Prayagraj, Ghaziabad and Gorakhpur, among other locations, the company said in a regulatory filing. The company said the investments will be made subject to project-specific, regulatory and other approvals, as well as prevailing market conditions, with a focus on high-growth urban centres, pilgrimage destinations and transit corridors.

The company "plans to develop 19 hotels spread over...