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Global hospitality companies forays into Indian Market

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India, the major travel destination of Asia is gradually increasing the number of visitors and travelers every year and going with the available sources with the www.propertykhazana.com in the year 2005 the number of foreign travelers visited India was 3.95 Million which was raised to 4.45 Million by 2006, with local visitors not less than 300 Million.
So with the ongoing scenario the hospitality segment is on the end of the toe to encash and reportedly many realty giants are working out on the hotel ventures in all the metros and Tier-2 cities. Many global hospitality chains are foraying into India and if the revealed source with the www.propertykhazana.com is to be believed then there is ground clear to operate 350 5 & 4 star rated hotels and over 50 villas. So the proposal shall add 65,000 rooms to the one existing currently.
The global hospitality companies are relying on the local and prominent builders and inviting for JV’s and well known Hilton Group has tied up with DLF Group for implementing its plans of developing 25,000 rooms. DLF is investing about Rs. 12,000 crores for hotel projects and the budget is meant to develop 12 5star hotels in Tier-2 cities. In addition, Europe based hotel group is introducing F-1 budget hotels in India with over 5000 rooms very shortly and the company is working out a JV with Nariman Lifestyle, one of the famed builders in Mumbai to construct 5 hotels with 1080 rooms.
Source: NBTVLIVE

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