India to see 65% rise in hotel rooms in next 5 years


Real estate consultancy Cushman & Wakefield expects the Indian hotel industry to see a 65 per cent rise in the total number of hotel rooms by 2017. Approximately 52,000 new hotel rooms are expected to come into the system in the next five years, as per a report in Business Standard.

The NCR is likely to contribute about a third of these with 17,000 keys while Kolkata will see the highest percentage increase in inventory by adding 3,813 rooms or 105 per cent more than the current supply. Pune will contribute the lowest portion of rooms at 41 per cent or 2,853 rooms to the existing 6,970 keys.

Akshay Kulkarni, Regional Director – Hospitality, South and South East Asia, Cushman & Wakefield, said, “Even while India is considered to be an attractive market for both leisure and business travel, there are some inherent deficiencies due to which hospitality projects have hitherto taken long to come up including aspects like funding and regulatory issues, which have either delayed or in some cases stalled projects. Despite a significant number of leisure travel both international and domestic, hoteliers are seen to be concentrating on business destinations, specifically gateway markets of NCR, Mumbai and Bengaluru.” read more

Source: http://www.travelbizmonitor.com/

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Categorised in: Hospitality, Sector News

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