courtesy: AOLGA
With a remarkable investment of Rs. 10,000 crores, real estate majors are now eying India’s flourishing hotel industry.
Rapidly increasing room rates fueled by high demand and low supply growth have resulted in increased investments.
Following are some of the giants of real estate industry who are planning to foray into hotel business:
- Prestige Estates Projects has set aside Rs. 4,250 crore to be invested in six new hotels with Marriott International as reported by Livemint.
- D B Realty intends to separate its hospitality department and develop hotels worth Rs 2,300 crore under a new firm, Advent International Ltd.
- K Raheja Corp’ s Chalet Hotels bought a Courtyard By Marriott resort and plans to add 800 rooms at the cost of Rs. 2000 crores in order to take the total number of rooms to around 5,000
- House of Abhinandan Lodha plans to work with Leela Palaces resorts and hotels for a luxury hotel in Ayodhya while investing INR 20 billon for the construction of luxury hotels across cultural cities.
