Tourism Industry News
Global brands queue up to open more hotels in India
Global hotel groups are persisting with their push into India, encouraged by the resilience of its economy and the shortage of hotel rooms in a country growing at the quickest pace worldwide after China.
Canada-based Fairmont Raffles Hotels International, Thailand’s Amari Group, Luxe Worldwide Hotels, Zurich-headquartered Mövenpick Hotels and Resorts, and luxury hotel brand Waldorf Astoria Hotels and Resorts all have plans to enter or extend their business in India through the addition of five-star properties.
The country’s hospitality business needs investments of Rs60,000 crore over the next five years to meet the unmet demand of 150,000 rooms, according to a January study by the Federation of Indian Chambers of Commerce and Industry and Evalueserve.
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