Hoteliers to add 58,000 rooms as travel and tourism revive


Hoteliers in India would add around 58,000 rooms in the next five years, led by global companies such as Hyatt Corp., Marriott International Inc. and Inter- Continental Hotels Group, as travel and tourism revives after an economic slowdown.
“Last financial year saw In- dia adding 10,000 rooms. With the revival in the sector, India will add another 58,000 more,“ said Manav Thadani, manag- ing director at hotel consulting and valuation firm HVS. “Out of this, 60% would be executed by international brands.“

Many delegates at the Hotel Investment Conference South Asia 2010 on Wednesday said India's growth rates are sec- ond only to China.

“India is relatively under- hoteled market,“ said Star- wood Hotels and Resorts Worldwide Inc. vice-chairman and chief financial officer Vas- ant Prabhu. “India with a pop- ulation of one billion people has just 100,000 hotel rooms, while greater New York city alone has roughly 80,000 hotel rooms.“

Prabhu said his company is planning to own and manage at least 100 hotels in India in the next three to five years, up from the current 26. He also said his company is open to acquiring an Indian brand to bolster its presence.

Jolyon Bulley, vice-presi- dent, operations, South East and South West Asia at InterContinental, said the company would add 40 hotels to its ex- isting 11 properties in the next three to four years.

Rajeev Menon, area vice- president at Marriott Hotels In- dia Pvt. Ltd said his group will build 29 hotels in addition to its present 11.

Indian firms are not far be- hind, with Sarovar Hotels Pvt.
Ltd, a franchiser for Park Plaza and the Park Inn hotel brands in India, leading the way. “We will be building 20 hotels this year. Six will be in Delhi due to Commonwealth Games,“ said Anil Madhok, managing direc- tor at Sarovar Hotels. “We may not be adding 20 hotels every year, but eight to 10.“

Raymond N. Bickson, man- aging director and chief execu- tive at Indian Hotels Co. Ltd, owner of the Taj chain of ho- tels, said the firm wants to “build a hotel every seven weeks.“

source;livemint