Hotels and convention centers are now included in the master list of infrastructure, a move praised by the Tourism Minister which is likely to boost the hospitality sector.
Noida-Greater Noida Expressway to become a major hotel hub with 2,500 new rooms. Major brands like Marriott, Hyatt, and Oberoi are showing interest due to land availability and mixed-use projects.
Jaipur Tourism City, a 400-acre mixed-use destination resort, promises to be India's first vacation city featuring retail, hotels, attractions, and residential spaces.
ITDC is renovating Hotels Janpath and Samrat in New Delhi. Hotel Janpath will feature in-room spas and a rooftop solarium, with an estimated investment of Rs 45 crore.
PVP Ventures sells Vadapalani property to SRM for Rs 140 crore, plans to focus on core businesses
Premium hotel room rates drop 25% due to occupancy decline. Hotels target steady segments like cabin crews and long-stay programs to combat the slowdown.
Real estate player Unitech repays Rs 200-crore loan to Indiabulls Financial Services through asset monetisation and internal debt restructuring.
Phoenix Group Global launches Zuri brand of luxury hotels and resorts in India. First hotel to open in Bangalore, with plans for five more across the country.
JP Morgan Chase eyes 18% stake in Core Hotels Ventures for $14m, subject to final approval from Finance Minister P Chidambaram. FDI received previously from Indus Hotels Mauritius.
Berggruen Holdings plans to invest over Rs 1,000 crore in India by 2012 to establish 3- and 4-star hotels. The company has secured funding from IDFC and is exploring additional funding options.
Global property market transactions fell 46% in Q1 2008, but investment in Asia and emerging markets continued to grow, driven primarily by acquisition of land and development rights.
Five major realty companies, including B L Kashyap and Sons, are bidding to develop a Rs 100-crore five-star hotel in Bathinda, Punjab, under a public-private partnership.
Lippo Group plans to invest $10 billion in Asian property markets over the next five years, focusing on retail, residential, hospital, and hotel projects in emerging markets like China and Indonesia.
Lehman Brothers invests $175 million in a Mumbai mixed-use project with Unitech and local partners. The project includes 1 million sq ft of office space, part of an 18 million sq ft master plan.
Paul Hotels & Resorts is investing Rs 180 crore to develop two hotels in Mysore and Hampi, Karnataka, within the next two years.