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Mumbai attack affects the hospitality diligence

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Considering the various effects on the economic capital city – Mumbai renowned business house – city Group is on the way to reduce its concentration on the assets of these areas. According to the sources of www.propertykhazana.com, the recent terrorist attack too played a key role in bringing down the property atmosphere in the western metro along with the already injured condition of financial slow down.
The company also has decided to reduce the further investment on the properties beyond the existing one which are in the grave of not so profit segment. The largest brand in the hospitality industry in India obviously is the Indian Hotels. Now source of www.prpertykhazana.com reveals that, this mega brand is now making way for few other budget hotels with its new product “Ginger”. The company is already in the business with 11 hotels of same category and is planning for another 35 with in next couple of years. The total investment for this new project may goes up to the mark of Rs. 400 to Rs. 600 crore.
The new addition for their coming project will be including the wild life lodges as per the sources of www.propertykhazana.com . At the same time the company is also stepping for overseas expansions with many recent acquisition and management agreements.
Source: NBTVLIVE

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