Bullish hoteliers on expansion spree in India
Hospitality majors expressed optimism on the future of the sector in India at the ongoing Hotel Investment Conference South Asia (HISCA) in Mumbai. All leading chains are building up capacity and said India is the right market to be in.business Updated: Apr 08, 2010 22:43 IST
Hospitality majors expressed optimism on the future of the sector in India at the ongoing Hotel Investment Conference South Asia (HISCA) in Mumbai. All leading chains are building up capacity and said India is the right market to be in.
“Last year, there has been 19 per cent growth in the number of branded hotel rooms in India, from 48,000 rooms to 58,000 rooms. Despite this occupancies have not fallen. We expect another 58,000 rooms would be added in the next five years,” said Manav Thadani, managing director, HVS India, which is organising the two-day event. “A large number of investors are making a beeline to invest in India and their number is growing year after year.”
Almost all international hotel chains announced several new hotels. So are Indian hotel majors, who resolved to grow faster considering their local expertise and loyalty of customers.
“We see greater potential in upscale and budget segment across India and we are expanding rapidly,” said Raymond Bickson, managing director & CEO, Indian Hotels Company Ltd (IHCL), which runs the Taj Group of hotels.
He also said Taj group would open seven new hotels this year in addition to the existing 106 hotels both in India and abroad.
“We are looking at growth opportunities in the international market through acquisitions and are planning to consolidate all international operations into one holding company,” Bickson said.
Over 550 delegates, including 160 foreign participants from 19 countries are participating in the conference.
With more than additional 50,000 hotel rooms planned in five years, the main challenge would be augment the necessary manpower and all hotel majors are gearing up for this.