Latest Property News on 'Hotel Industry in India'

Rahejas to enter hospitality sector with Indian Hotels

Delhi-based Raheja Developers will foray into hospitality sector with the Indian Hotels Company. The realty player will develop six hotels in four years.

“While four of these will be business hotels in Four-Five-Star category, two will be budget hotels,” Navin Raheja, MD, Raheja Developers.

Rahejas will develop only one stand-alone hotel in Gurgaon while others will be part of their shopping complexes. The investment in the 300-room stand-alone business hotel will be to the tune of Rs 150 crore (excluding land price) with an additional cost of Rs 50 lakh for furnishing. Read More »

Hotel Booms “Checks in” Chandigarh

World’s major hotel chains are moving in to tap the hospitality boom in Chandigarh. While Carlson Hotels Worldwide Asia Pacific announced its plan to set up a hotel at Zirakpur, it is an indication as to how the city has caught the fancy of the hospitality sector that is willing to expand itself in and around Chandigarh.

According to hotel industry analyst, the total investment being made in the hotel projects by the companies could be anywhere around Rs 1000 crore. Including foreign direct investments, developers like Uppal’s project of developing a five-star hotel in Sector 35 in association with JW Marriott involves an estimated cost of around Rs 250 crore. Read More »

Oberoi Constructions plan a massive Rs. 4,000 cr. IPO

Mumbai-based property developer Oberoi Constructions, led by billionaire Vikas Oberoi, is planning a Rs 4,000 crore ($1 billion) initial public offer by year end.

Oberoi Constructions has hired investment banking major Morgan Stanley to value the company. The real estate developer plans to issue fresh shares under the IPO, however, the exact dilution of the stake is not known. The company plans to use the IPO proceeds for land acquisition and fund upcoming projects including the Oberoi Garden City and four and five-star hotels across the country.

“We have executed many major projects in Mumbai and have a good land parcel in the heart of the city. We will not go for pre-IPO placement of shares,'’ said Vikki Oberoi, managing director of Oberoi Constructions. Read More »

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 »