A group of experienced investors have formed a new company, Raag Hotels Limited ("the Company"), with committed initial equity capital of £38m, to develop a chain of budget hotels in London operating under the Tune brand. The Company has exclusive rights to operate Tune Hotels' franchised properties in London and plans to acquire or develop 15 Tune Hotels providing 1500 rooms and investing over £100 million in the business over the next 5-7 years.
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