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With the standard of living in India rising, and the work-life culture of the people changing, the hospitality industry is on the uptrend. Investors have started considering it a promising sector for investment. Moreover, well known international hotel chains have already established their presence in India either through franchisee route or through setting up of new hotels. Not to be left behind, Indian hotel groups have also taken up room expansion projects across major cities.
The third week of May 2016 saw a number of announcements encouraging the sector.
Hotel Industry:
Indian Hotels Company (IHCL), which runs the Taj Group of hotels, is looking at increasing its presence in Delhi, Mumbai, Chennai, Goa, Bengaluru and Hyderabad. Additionally, it is also looking at strategic opportunities in other cities in Kerala and North East.
Australia-based StayWell Hospitality Group plans to add five hotels in India with around 550 rooms, by the end of 2016, targeting mid and up-scale segments. Currently, the group has three operational hotels in India and is planning to open five new hotels at Hyderabad, Goa, Jodhpur, Mumbai and Greater Noida. The hotels will be run under the brands, Park Regis and Leisure Inn.
Israel's Dan Hotels is set to venture into India with its first overseas facility coming up in Bengaluru, Karnataka. Construction of the 230-room hotel is underway and it is expected to be inaugurated in about 10-12 months.
Restaurant Chains:
International casual dining restaurant, Barcelos has firmed up plans to set up over 30 outlets in India by 2021, with a projected turnover of Rs 200 crore. With the decor retaining Portuguese-European architecture, as evident in over 120 Barcelos outlets all over the world, the logo and interior will largely retain that effect with local feel.
The Bar Stock Exchange, a pub chain, is expanding from six outlets in Mumbai to other cities in India. The self-funded company will open 5,000 sq ft outlets in Pune, New Delhi and Bengaluru. The Pune pub is expected to open this month, followed by Bengaluru and Delhi.
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