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Business News
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Cushman and Wakefield Hospitality Report: NCR will have highest number of hotel rooms by 2017
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Posted online: Thursday, September 20, 2012 at 6:28:03 PM
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New Delhi, Sep.20 : Cushman and Wakefield, one of India's leading real estate consultancy firms, on Thursday released a research report on the hospitality industry, and predicted that the National Capital Region (NCR) would have the highest number of hotel rooms (17500) by the year 2017.
The report titled "Indian Hospitality Story 2012 and Beyond", was released at the Fourth International CII Hospitality Fair- 2012 here in the presence of Union Tourism Minister Subodh Kant Sahai.
Evaluating the hospitality sector dynamics of India's top six cities-Bengaluru, Chennai, Delhi, Hyderabad, Kolkata and Mumbai, the Cushman and Wakefield report says that these cities are expected to see a total of 50,000 new hotel rooms across all categories in the next five to six years. It said that by the end of 2012 alone, an additional 14,800 fresh keys could be on offer. It said that out of the total expected supply for 2012, 2000 new hotel rooms have already entered the market.
Akshay Kulkarni, Regional Director - Hospitality, South and South East Asia, Cushman and Wakefield, said: "India's hospitality sector has been witnessing interest from a variety of segments ranging from - MICE, wellness tourism, spiritual and pilgrimage tourism, apart from the traditional business or leisure travel. The demand has been strong from both foreign as well as domestic tourists. Given the rather diverse nature of demand, the hospitality industry is also looking at creating adequate products to service the varied tourist requirements. With the support and initiatives by the governments at various levels, the hospitality sector is moving towards comprehensive growth"
NCR, with a total room supply of 17,500 rooms, is expected to see the highest fresh hotel room supply in the next five years. Mumbai (10, 200) and Bangalore (9, 400) will also see significant addition to the existing inventories in the city.
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