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November 30, 2006

Accor to develop hotels in India | INRnews

New Delhi, November 30, 2006 : As part of its global development strategy aiming at opening 200,000 new hotel rooms by 2010, of which 60% in emerging markets, Accor has signed today significant partnerships that trigger a major expansion in India. This expansion plan covers the full spectrum of the hotel market in India, including budget Formule 1 hotels, economy Ibis hotels, mid-market Novotel hotels and upper-upscale Sofitel properties.

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November 21, 2006

Indian real estate market growing by 30% a year | INRnews

Bangalore, November 21, 2006 : New research issued by global real estate adviser DTZ has revealed that India is becoming one of the world's key emerging real estate markets.

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November 19, 2006

Delhi set to benefit from Commonwealth Games | INRnews

New Delhi, November 19, 2006 : Delhi is becoming a hot destination for hotels - and the major infrastructural development in the city in preparation for the 2010 Commonwealth Games is the reason why.

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November 16, 2006

New five-star hotel in Gurgaon planned by Taj Hotels | INRnews

New Delhi, November 16, 2006 : The Taj Group of Hotels is planning a 200-room hotel on 7 acres of land in Gurgaon. The total investment for the project is expected to be above Rs.150 crores.

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November 02, 2006

easyHotel to set up budget hotels in India | INRnews

Dubai, November 02, 2006 : easyHotel, part of the easyGroup of companies founded by serial entrepreneur Stelios Haji-Ioannou, is planning to start eight hotels in India with Dubai-based Istithmar Hotels. The no-frills, budget hotels will come up in Delhi, Mumbai, Chennai, Bangalore, Kolkata, Hyderabad, Pune and Ahmedabad by 2009. Istithmar will develop, own and operate the 120 to 200 room easyHotels in India.

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October 28, 2006

Investments in India's hotel sector attractive | INRnews

Mumbai, October 28, 2006 : The booming hospitality sector in India is seeing increased interest from domestic and foreign players keen to invest in hotel, resorts and serviced apartment development.

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October 12, 2006

Lodging Econometrics Completes Development Pipelines and Three Year Supply Growth Forecasts for 21 Asian Countries

Portsmouth, October 12, 2006 : Lodging Econometrics (LE), the Industry Authority for Hotel Real Estate, announced the completion of a Development Pipeline with a Three Year Forecast for New Hotel Openings for 21 different countries in the Asia Pacific region including India.

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October 06, 2006

New hotels planned for Mumbai

Mumbai, October 6, 2006: A number of new hotels are planned for Mumbai to cater to the increasing demand from both domestic and international visitors to the country's commercial capital.

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September 29, 2006

Ahmedabad to have India’s tallest hotel

Ahmedabad, September 29, 2006: Shree Raj Tours & Travels is looking to set-up a 42-storey hotel in Ahmedabad and aims for this to be India's tallest hotel. The investment required for this project is Rs.350 crore.

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September 25, 2006

Delhi Development Authority's hotel plot auction a damp squib

New Delhi, September 25, 2006: Of 10 hotel plots that the Delhi Development Authority (DDA) put on auction on Sep 25, only one was sold. The Mangalam Place, Rohini plot of 7,127 square metres sold for Rs. 48.05 crore, only marginally above the reserve price of Rs. 48 crore.

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September 22, 2006

Boom in Indian Real Estate likely to continue - Ernst & Young report

Mumbai: 22nd September, 2006: On the eve of its annual real estate summit, 2006, Federation of Indian Chambers of Commerce and Industry (Ficci) commissioned Ernst & Young, a multinational consultancy, to prepare a report on the opportunities before the Indian real estate sector. According to this just-published report titled ‘Indian real estate: opportunities and returns’, the boom in real estate industry is likely to continue.

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September 21, 2006

Carlson Hotels worldwide launches new property in Khajuraho, India

Minneapolis, September 21, 2006 : Carlson Hotels Worldwide today announced that the company has a new property in India to its global portfolio of brands in August. The property is a Radisson Hotels & Resorts® hotel in India.

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September 13, 2006

Banyan Tree Expands Its Resorts and Spas In India

Singapore, September 13, 2006 : Singapore Main-Board listed Banyan Tree Holdings Limited (“Banyan Tree” or the “Group”), a leading manager and developer of premium resorts, hotels and spas in the Asia Pacific region, recently announced that it has secured new agreements to manage two Banyan Tree Resorts and one Angsana Resort in India, and manage three new spas in Ireland, China and India respectively.

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September 12, 2006

Jaypee Group to construct hotel in Greater Noida

The Jaypee Group is developing a 350-room hotel in Greater Noida. The project on 450 acres of land will be promoted as a mixed-use project including hotel, cottages, golf course and resort. The hotel is scheduled to open before the 2010 Commonwealth Games. Jaypee is also mulling plans to enter the three-star hotel segment with the launch of a few hotels in this tier before 2010.

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September 11, 2006

Unison to set up 5-star hotels at a cost of Rs 2,000 crores

Unison Hotels, promoters of The Grand in Delhi plan to invest over Rs.2,000 crores to set up eight five-star hotels in the country. The hotels are to be in Bangalore, Chandigarh, Chennai, Hyderabad, Kolkata, Pune, and Mumbai. This move follows growing demand for accommodation in India and high occupancy rates enjoyed by hotels.

The company has already acquired land in Hyderabad for it's proposed five-star hotel and service apartment block.

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September 07, 2006

Indian Hotels Company unveils Ginger hotel in Bhubaneshwar, Orissa

The GenNext 'Smart Basics' Hotel from The Indian Hotels Company

The Indian Hotels Company (IHCL) has unveiled its GenNext 'Smart Basics' hotel — Ginger — at Plot No H, Jaidev Vihar in Bhubaneshwar. The chief minister of Orissa, Mr Naveen Patnaik and Chairman, Tata Group, Mr Ratan N Tata, inaugurated the hotel in the presence of Mr Raymond Bickson (MD and CEO, The Indian Hotels Company), Mr Prabhat Pani (CEO, Roots Corporation) and other dignitaries.

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September 01, 2006

Delhi Development Authority to auction hotel sites

The Delhi Development Authority will auction ten hotel sites on September 25, 2006. Going by the reserve prices, the DDA will stand to make around Rs.2,699 crores at the very least.

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August 29, 2006

Indian railway projects to be developed in three-way joint venture

In a smart move, two private companies have formed a joint venture with the Indian Railway Construction Company (IRCON). Kamat Hotels India and Uppals Hotels Delhi are the private hotel and real estate developers with whom IRCON has joined hands to develop railway hotel projects across the country. The new company called 'Uppal Kamat Hotels Consortium' has won the first two properties in a tender process of the Indian Railway Catering and Tourism Corporation (IRCTC)  - Vijayawada and Madurai railway stations. They are also confident of winning the bids for projects at Chandigarh and Secunderabad.

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Prime Property acquires real estate in Mumbai and Pune

Prime Property Development Corp has purchased real estate in Mumbai and Pune that it hopes to develop commercially.

The Mumbai property on SV Road, Goregaon, can be developed into 35,000 sq.ft. of retail space, while the Pune property in Pimpri-Chinchwad can be developed into a retail and hospitality destination covering more than 400,000 sq.ft. of space.

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August 26, 2006

Delhi Development Authority DDA to auction prime hotel plots in capital

The Delhi Development Authority (DDA) has put out a Public Notice for auction of prime plots on freehold basis for constructions of hotels in Delhi. The auction, slated for September 25th, will see 10 plots between 7,000 to 30,000 sq.m. put on the block for reserve prices ranging from Rs. 48 crore to Rs. 723 crore.

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August 10, 2006

Royal Orchid Hotels to expand presence in India

The Royal Orchid Hotels (ROHL) plans to expand its presence in India by setting up properties across the countries either independently or in partnership/JV with other firms. The company has raised funding from an IPO and venture capital for expansion purposes.

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August 06, 2006

Empee Hilton to come up in Chennai

The Chennai based Empee Group is setting up a five-star deluxe  hotel in Chennai at an investment of Rs. 185 crore. The hotel is to be operated and managed by Hilton Corporation.

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August 05, 2006

Second Hotel for The Park in Bangalore

Apeejay Surrendra Group's Park chain is expanding. They plan to open a 300-room luxury hotel in Bangalore to cater to corporate clients amongst whom the chain is very popular. Their preferred location is in the area around Whitefield on the outskirts of Bangalore. The first Park Hotel in Bangalore is already running at 85% occupancy. 

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August 02, 2006

Taj GVK group to develop three new hotels

The Taj GVK group is progressing plans to develop three new five star hotels one each in Chennai, Bangalore and Hyderabad. The 125-room Chennai hotel already under development is likely to be completed by March 2007. The 189-room hotel in Hyderabad is likely to be ready by 2008. Taj GVK is also to acquire land for the Bangalore hotel.

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August 01, 2006

Indian Railways looks at its large land bank for real estate development

The Indian Railways is looking to exploit its large land bank for commercial development and as a source of new revenues. The Railways has 43,000 hectares of land available for development, estimated to be one tenth of the total land available with the Railways.

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Real estate major Unitech in massive land deal

Real estate major Unitech is set to announce India's largest real estate deal at a sticker price of well above Rs. 2,000 crore. The land deal is said to surpass earlier mega deals including Unitech's Rs. 1,568 crore Noida Expressway deal, Reliance Industries Rs, 1,100 crore Bandra-Kurla deal and DLFs Rs. 702 crore deal for NTC mill land.

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Tourism projects worth Rs.503 crore in Kochi

Kochi authorities have drawn up plans to invest Rs.503 crore in tourism related projects as part of the City Development Plan  being readied for assistance from the Jawaharlal Nehru Renewal Mission project. Under this project, 70% of the investment is to be borne by the Central Government and 30% by the State Government.

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July 30, 2006

East India Hotels plans new hotels

East India Hotels is planning new hotels under the Oberoi brand in Bangalore and Goa. The 225 room Bangalore hotel is planned near the new international airport and is to be built on 8 acres of land overlooking the Hebbal lake. The Goa hotel is on a prime beachfront site of 50 acres.

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July 28, 2006

Government clears FDI proposals for real estate and infrastructure

The Government has approved Singapore-based AAPC Hotels Management Pvt Ltd proposal for building a hotel at an investment of Rs 150 crores. AAPC hotels has formed a joint venture "Express Call Pvt Ltd" for this project.

Separately, the proposal of ILM Trichy (Mauritius) Ltd to fund the Trichy Tollway road project in Hyderabad at an investment of Rs 94 crores was also cleared based on the recommendations of the Foreign Investment Promotion Board (FIPB).

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July 22, 2006

Hyderabad real estate prices soar as land auction fetches Rs. 700 crore

The Hyderabad Urban Development Authority (HUDA) has realised Rs. 703 crore from the sale of 69 acres of land in the town of Kokapet, 20km from the city. The 15 plots sold in the Golden Mile layout are in a good location next to the Outer Ring road and close to the Financial district and IT hub in Gacchibowli.

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June 27, 2006

The Park group of hotels to launch business hotel in Navi Mumbai

The Park group of hotels, who already have shop in Delhi, Kolkata, Chennai and Bangalore, are starting business in Mumbai according to online reports. The Park Hotels, new property in Navi Mumbai will be launched as a trendy business hotel. This 80 room property is scheduled to be opened by end 2006 and will target business travelers here. Not just that, it will also house a hospitality management school.

Read Full Article at the Link Below:
Luxury hotel boutique, The Park Hotel, now in Navi Mumbai
(Source: Vashi2Panvel.com)

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June 26, 2006

Malaysian real estate developer Dijaya looks to expand in India

Petaling Jaya: Developer Dijaya Corp Bhd is looking to expand its business overseas, especially to India in the future, as the company has begun scouting for opportunities in the sub-continent’s north, east and central regions.

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May 26, 2006

Destination Hyderabad - The Deccan Queen is next on the hot real estate chart

Would you believe that over two thousand bankers and financiers in Asia would meet in Hyderabad. And that they would be part of a convention that was conducted smoothly with world-class facilities. You'd better believe it. The Asian Development Bank concluded its convention at the Hyderabad International Convention Centre (HICC), India's most modern yet.

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May 21, 2006

The sheiks are coming: Indian real estate on a magic carpet

Chennai, May 19 - Middle East real estate giants are closely examining Indian shores. Hardly surprising,given the close business and people links between India and the desert kingdoms. For decades, Indian labour, both skilled and unskilled, worked the mid-east route. Now, Arab dollars are coming this way - in billions.

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May 13, 2006

Indian IT industry drives Real Estate and Hospitality sectors

The high-tech industry is significantly driving volumes and pushing up business across other sectors like real estate & construction according to Nasscom, the premier trade body and the chamber of commerce of the IT software and services industry in India.

In the current financial year, the IT/ITES sectors is likely to account for 8,900 hotel rooms per day compared to 7,000 rooms per day last year. This number could swell to 30,000 rooms per day by 2011/12. Similarly the IT/ITES sector is expected to account for an year-on-year`incremental' real estate and construction demand of 14.7 million square feet this fiscal, and this number could rise to 53.6 million square feet by 2011/12.

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April 16, 2006

Real Estate players focus on the hospitality industry in India

The unprecedented boom in inbound tourism and the IT sector has led to an unprecedented shortage of rooms, with hotels all over the country witnessing their highest-ever occupancy rates. Most luxury hotels in Mumbai, New Delhi and Bangalore are booked till mid-2007, with rates at Bangalore's Leela Kempinski and the Hotel Imperial in New Delhi hitting $280-$290 a night, nearly three times the average room rate in the United States. In the absence of motels, that presents an opportunity for mid-priced hotels in a segment crowded with local family-owned, standalone hotels.

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