Deven Shah said the sector is on the lowest priority from lenders perspective and bankers are in wait-and-watch mode to start lending again.
We expect 1.5 million visitors from India by 2021: Christopher L Thompson, President & CEO at Brand USA
Consumer sentiment and optimism has come in since the new government in India and that bolsters their desire to travel, says Thompson.
"It is not a foregone conclusion that every tourist will now want to come to India. I only see the tourist arrival numbers doubling in the next five to seven years," said Madhok.
As part of its ambitious plan, on Thursday it opened the 104-suite resort ITC Grand Bharat near Delhi where it spentRs 2-2.5 crore per room.
Budget hotel chain Lords will add four properties in cities such as Agra, Jammu, Maduda(Karnatka) & Savli(Baroda) in the next one year.
Average room occupancy rate in Sept quarter, traditionally lowest period of biz for hotels in the year - stood at 56.5%, up from 53.2% in the year-ago
Hotels at the hospitality district near the Delhi airport are now installing facial recognition software in line with the latest addition in the Delhi Police’s tight security norms.
Tom Heneghan, chief executive officer at US private equity firm Equity International, believes the country needs to do more to shed the perception that it's a comparatively high-risk market to invest in.
"We will be opening three new properties under the Gateway brand in India by end of 2015 taking the total tally under the brand to 28," Verma said.
Stable rupee, lower inflation will bring in large investments, says Tom Heneghan, CEO, Equity International
'Hospitality is an asset class that international investors can get interested in without any regulatory issues.'
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