If the memorandum of understandings (MOUs) in the Global Investors' Summit are any indication, the hospitality sector here is set to boom in the next two years. With infrastructure developing rapidly, it is no surprise that at least 10 new hotels are expected to be set up in the diamond city at an investment of Rs 2,000 crore.
An official from Surat Municipal Corporation (SMC) said, "In most of these projects, land is already available and in a number of them, the process of development has already been initiated. Many of these people are builders who want to diversify.
Sanat Reliya of South Gujarat Hoteliers Association said, "This is the time when people see an opportunity to cash in on the future. Major investments for the hotels up to 3 star levels are taking place in Station cluster area, whereas 3, 4 and 5-star category hotel projects are put up in the airport cluster area."
With Surat's population likely to cross 45 lakh by 2011 end and likely to double in a decade, investors see tremendous opportunities in this sector.
Read more: 10 new hotels set to come up in city - The Times of India http://timesofindia.indiatimes.com/city/surat/10-new-hotels-set-to-come-up-in-city/articleshow/7307084.cms#ixzz1BPJq3FoW