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costs between US$50-80 million to set up a five-star hotel in a prime
locality in urban India. The gestation period is between 3 and 4 years.
And guests will simply pour in!
to be noted:
liberalisation has given a new impetus to the hospitality industry.
costs an average of US$50-80 million to set up a five-star hotels
with 300 rentable rooms in India. The gestation period is usually
between three and four years. Movements in real estate prices have
to be watched, though they have stabilised in the past three years
hotels are obviously cheaper and have have smaller gestation periods,
but international chains are expected to go into the five-star category.
Indian hospitality industry is growing at a rate of 15 percent annually.
The current gap between supply (61,000 rooms) and demand (90,000
rooms) is expected to widen further as the economy opens and grows.
government forecasts an additional requirement of 200,000 rooms
by the turn of the century.
rapidly growing middle class, the advent of corporate incentive
travel and the multinational companies into India has boosted prospects
for tourism. India's easy visa rules, public freedoms and its many
attractions as an ancient civilisation makes tourism development
easier than in many other countries.
foreign companies have already tied up with prominent Indian companies
for setting up new hotels, motels and holiday resorts. The entry
of McDonald's, Pepsico's Kentucky Fried Chicken, Domino's and Pizza
Hut have given an international glitz to the hospitality sector.
international chains including Sheraton, Holiday Inn, Intercontinental,
Hyatt, Radisson, BestWestern, Days Inn, Hilton, Quality Inn, Ramada
Inn, Meridien, Kempenski, Four Seasons Regent, Accor, and Marriott
International are entering or expanding their hotel network in India.