Latest Property News on 'Hotel Industry in India'

Parsvnath eyes expansion in hotel biz, to invest Rs 2500 crore

Delhi based real estate developer; Parsvnath Developers is looking at investing between Rs 20-25 billion for the development of 40 more hotels. The company is in talks with leading domestic and international hotel chains for tie-ups. The company intends to develop 100 properties across India.

Last month, the company had announced a joint venture between its subsidiary Parsvnath (QNCF) Hotels (PHL) and Royal Orchid Hotels (ROHL) to develop 10 hotel projects in the next five years across India. The construction of the hotels would involve an investment of Rs 5 billion spread across 3-5 years. Read More »

DIAL Attracts Interests of Hotel Majors

The proposed project of modernizing Delhi’s airport By Delhi International Airport Private Limited (DIAL) is attracting large interests from leading players in Indian and international real estate and hospitality industry to develop 45 acres of commercial land near the international terminal.

The company has so far considered 15 applications, of which, 9 have been short listed and four will participate in a competitive bidding process. Read More »

Uppal Housing to Invest Rs 1,500 Cr in Hotel properties

Delhi based Uppal Housing Private Limited will invest a whopping Rs 1500 crore to develop hotel properties in India over the next 2-3 years.

The Group is planning to set up five star hotels in Pune, Hyderabad, Bangalore, Goa, and Chennai and has two five-star hotel properties under development in Gurgaon and Chandigarh. Read More »

La Calypso to Expand across India

Goa-based La Calypso Hotels Private Limited plans to capitalize its expansion across India with a prohibitive amount of Rs 350 crore. The company will develop seven five star hotels by 2009.

La Calypso Hotels will set up hotels in Mumbai, New Delhi, Gurgaon, Bangalore, and Hyderabad. The company will soon come up with a resort on the Mumbai-Pune Expressway.

The expressway Properties will be especially developed to cater to requirements of domestic and international travelers. On the other hand, the other four hotels will target business travelers. Read More »

LEELA Hotels plan Rs 2200-cr Investment; Launching New Projects

The Leela Group of Hotels will invest a whopping Rs 2,200 crore in the next three years to develop six hotel projects in different Indian cities.

The company will come up with five new hotels and service apartments by 2010. It will bring the hotel in cities including Hyderabad, Chennai, Udaipur, Pune, and Delhi whereas service apartments will be developed in Gurgaon.

“We have already invested Rs 1,100 crore,” says Leela Group chairman Capt C P Krishnan Nair. Read More »

India’s Tourism Potential May Come to a Halt

Tourism in India is zooming upwards with an impressive growth of 15.1% in first six months of 2007. Considering the lack of accommodation facilities in the country, maintaining such a surge seems a little difficult.

Surprisingly, around 30-35% airlines cancellation have been reported in the past few months. Shortage of hotel rooms in Delhi, Mumbai, and other metros are believed to be the underlying reason putting of the visitors. Construction of good accommodation facilities is moving at snail pace. The lack of hotel accommodations is likely to hit the India’s tourism potential in near future, say experts. Read More »

Phoenix Mills Plans Foray into Hospitality Sector

Atul Ruia, owner of the fast-developing Phoenix Mills Ltd. in Mumbai, plans to carve out a substantial niche in Indian hospitality sector with six hotels in Mumbai, Pune, Chennai, Bangalore, and Agra over the next five years.

Of these proposed hotels, the first will come up at the Phoenix Mills property at Worli in Central Mumbai. It would be developed as a 400 key luxury hotel over an area of 430,000 lakh sq ft and is likely to be ready by2009-end. Read More »

Oberoi Plans Rs 4,500 Cr for Hospitality Projects in India

The Oberoi Group of Hotels is planning to invest Rs 4,500 crore in new hotel projects for 60% capacity augmentation in national as well as international market. The plans are to take place over the next five to six years.

Of the total investment, EIH Ltd, the flagship company of the Oberoi Group, will contribute Rs 1,000 crore whereas the rest will come from borrowings and partners. The number of rooms during the period would increase to 6,800 rooms from the present 4,100 rooms. Read More »

Global Hotel Chains on the Way to India

Increasing tourism in India has made a dozen global hotel chains bullish on to expand their horizons in the country. Putting it altogether, they have plans to set up over 350 five star hotels, four star and budget hotels and 50 villas.

If plans turn green, they would translate 65,000 additional rooms. The total number of hotel rooms in all categories has only grown by 10%, accounting for around 92,000 rooms. Read More »

Royal Orchid to set Hotels Across India

Royal Orchid, one of the prestigious hotels in Bangalore is eager to broaden its horizons across India. Encouraged by the same, the group is considering investing Rs 500 crore over the next two years to add around 2,000 rooms to its present facility of 750.

The Group will set up exclusive five star hotels in Delhi, Noida, Shimla, Jaipur, and Mumbai, informs Chander Baljee, Chairman, Royal Orchid. Read More »