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News & Views on Indian Real Estate

Tuesday, June 03, 2008

37,000 hotel rooms to be added in the next three years in India

According to my estimate, around 37,000 hotel rooms will be added in the next three years in India. First and foremost, Best Western will establish 100 hotels and 10,000 rooms under its umbrella in India. Berggruen Hotels has already announced $100 million investment to set up 38 hotels in India. Hilton is going to invest $143 million to set up 70 hotels in association with DLF. These are just some of the headlines that have hit the newspapers in the recent past. There are dozens of other investors, existing and new, who have announced plans of plunging into India's booming hospitality industry. In fact, there's so much money coming in-at least on paper-that investors would be mad to think that there's room enough for all. The economy's growth rate, at 9.4 per cent, eventually had to have a cascading effect on investments in the hospitality sector and it's not just the foreign players but also the Indian hospitality companies who are getting into high gear

Rajani said...

Hospitality industry is taken to be of great income these days.

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