Hotel industry to add 55,000 rooms in 4 years
The Indian hotel industry will almost double the number of rooms from the current levels in 3-4 years by adding an estimated 55,000 rooms, as per a study by consulting firm HVS India.
The development of new rooms is going to be led by regional real estate players and hospitality firms as most large real estate developers have abandoned or scaled down their expansion plans. The study revealed that fewer new rooms were announced last year but developers started work on a higher proportion compared to 2007-08.
Of the 94,115 rooms announced by various hotels and real estate developers for the year ended March 2009, 60% of the rooms saw some active development. Compared to this, in the previous year (April 2007-March 2008) companies announced plans to build over 1.14 lakh rooms of which 58% saw actual development.
More : economictimes.indiatimes.com