New Investors In Market
Choice Hotels
India is part of Choice Hotels International, one of the largest franchisers of budget and mid-market brands, with over 5000 hotels across the world. Currently, there are over 40 Choice branded hotels in the country, with the number expected to touch the 100 over the next four years, Mr-Pawar said. It’s beneficial for economic growth of India as well as real estate India market and Travel Industry. Choice hotels do not invest in hotel properties but manages hotels through a mix of management, contract agreements and franchise management with the developers. With government announcing tax sops to new budget hotels coming up in the National Capital Region by 2010, at least half dozen of the new properties are expected tone situated in this region. Hotel developers, however, point out that tax holidays do not help to bring down real estate India market. The country faces a massive shortage of hotel rooms, with estimated demand in NCR alone being around 3000 rooms by 2010. Choice International currently has around 2000 rooms in its portfolio in
India which is expected to touch the 5000 by 2010.Many others big name of Hotel Industry is also planning to take step towards Indian market even some are searching right place to real estate India .
Courtesy ET.