Hoteliers in India would add around 58,000 rooms in the next five years, led by global companies such as Hyatt Corp., Marriott International Inc. and InterContinental Hotels Group, as travel and tourism revives after an economic slowdown.
“India is relatively under-hoteled market,” said Starwood Hotels and Resorts Worldwide Inc. vice-chairman and chief financial officer Vasant Prabhu. “India with a population of one billion people has just 100,000 hotel rooms, while greater New York city alone has roughly 80,000 hotel rooms.”
Prabhu said his company is planning to own and manage at least 100 hotels in India in the next three to five years, up from the current 26.
Rajeev Menon, area vicepresident at Marriott Hotels India Pvt. Ltd said his group will build 29 hotels in addition to its present 11.
Raymond N. Bickson, managing director and chief executive at Indian Hotels Co. Ltd, owner of the Taj chain of hotels, said the firm wants to “build a hotel every seven weeks.”
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