The hospitality domain in India is looking at an investment of a whopping USD 10.3 billion by 2015, which will generate a huge employment scope and 60,000 rooms. According to the report of Swati Khandelwal Jain a number of hotel companies across the world are nurturing huge expansion plans across India.
The statistic depicts that the hospitality domain is looking forward to USD 10 billion worth of investment in India, over the coming five years. It will create over 80,000 jobs and 60,000 rooms. Majority of the international brands are showing high interest. Famous hotel brands like Marriott and Starwood are also planning for large expansion.
Starwood is planning to launch 50 hotels by 2014 and they are also looking forward in doubling the digit to 100 in just three years, by 2017. This plush hotel chain is also planning to introduce an ‘all new brand.’ India also boasts a huge potential in the three-star or under three-star category as well.
Marriot is also planning to extend its hotel properties in India. It is looking to open around 24 hotels in the next three years. Thus, India is emerging as a significant market, and it is acknowledged worldwide as the second fastest growing market after China.
The CEO of Starwood Hotels, Frits Van Passchen said that the hotel is mainly emphasizing on nine brands. They have already opened Four Points, by Sheraton and Aloft in India. He added that the hotel brand will primarily focus on the growth of these hotels. In future, they are also planning to launch another brand. Moreover, President and MD (Asia Pacific) of Marriott International, Simon F Cooper said that in the next three years, they are planning to double their representation in the hotel market.
Beside the international brands, some of the Indian brands like Indian Hotels are also planning to unveil 11 properties. They are looking forward to add around 1500-2000 rooms. They are considering three new properties to be introduced in the overseas market. The companies have developed a lot, as far as individual tires are concerned. They are expecting revenue of about 20,000 in the next five years. They are also successful in reducing their debt equity from 1.4 to under 0.6 now.
The hotel industry is undergoing a good phase in India.