The hotel industry in India is looking at investing USD 10.3 billion by 2015, which will create 60,000 rooms and 2,000 news jobs. CNBC-TV18’s Swati Khandelwal Jain reports more on the top global hotel companies which have big expansion plans in India.
The statistic say that the hotel industry is looking over USD 10 billion worth of investment in India over the next five years. It creates over 80,000 jobs really and 60,000 rooms. Most of the international brands are showing interest. Hotels like Starwood and Marriott have lined up huge expansions and expansion plans.
Starwood is looking at opening 50 hotels by 2012 and doubling that number to 100 in just three years time by 2015. They are talking about introducing a new brand altogether because they are currently not present in under four-star category. India has a huge potential in the three-star or under three-star category as well.
Marriott is also doubling its hotel properties in India. It is looking at about 24 hotels in the next three years. A lot of emphasis is on the Indian market, which is the second fastest growing market after China.
Frits Van Passchen, CEO of Starwood Hotels said, “We are focused on the nine of our brands. We have ‘Four’ that will play at the four star segments in India – Four Points by Sheraton and Aloft which we have already opened an operating here. We would focus on growing those. In the future, we would introduce another brand and make a launch here, but we have nothing definite to say on that at this point.”
Simon F Cooper, President and MD (Asia Pacific) of Marriott International said, “Over the next three years, we would double our representation in the market. It depends a lot on how well we launch Fairfield. Once we get the first one or two done, that will catch fire if we have done our job right.”
Talking about some of the Indian brands like Indian Hotels has also lined up about 11 new properties coming in this year. They are looking at adding about 1500-2000 rooms. They are looking at about two-three new properties to be brought in the overseas market. The companies have improved quite a bit, as far as individual tiers are concerned. The margins are looking healthy going forward. They are looking at revenue of about USD 2 billion over the next five years, which means a room size of about 20,000 in the next five years. They have been able to reduce their debt equity from 1.4 to under 0.6 now. It is a good going for the hotel industry overall.
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The statistic say that the hotel industry is looking over USD 10 billion worth of investment in India over the next five years. It creates over 80,000 jobs really and 60,000 rooms. Most of the international brands are showing interest. Hotels like Starwood and Marriott have lined up huge expansions and expansion plans.
Starwood is looking at opening 50 hotels by 2012 and doubling that number to 100 in just three years time by 2015. They are talking about introducing a new brand altogether because they are currently not present in under four-star category. India has a huge potential in the three-star or under three-star category as well.
Marriott is also doubling its hotel properties in India. It is looking at about 24 hotels in the next three years. A lot of emphasis is on the Indian market, which is the second fastest growing market after China.
Frits Van Passchen, CEO of Starwood Hotels said, “We are focused on the nine of our brands. We have ‘Four’ that will play at the four star segments in India – Four Points by Sheraton and Aloft which we have already opened an operating here. We would focus on growing those. In the future, we would introduce another brand and make a launch here, but we have nothing definite to say on that at this point.”
Simon F Cooper, President and MD (Asia Pacific) of Marriott International said, “Over the next three years, we would double our representation in the market. It depends a lot on how well we launch Fairfield. Once we get the first one or two done, that will catch fire if we have done our job right.”
Talking about some of the Indian brands like Indian Hotels has also lined up about 11 new properties coming in this year. They are looking at adding about 1500-2000 rooms. They are looking at about two-three new properties to be brought in the overseas market. The companies have improved quite a bit, as far as individual tiers are concerned. The margins are looking healthy going forward. They are looking at revenue of about USD 2 billion over the next five years, which means a room size of about 20,000 in the next five years. They have been able to reduce their debt equity from 1.4 to under 0.6 now. It is a good going for the hotel industry overall.
Source