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Drdutta's review
Investment Sector: Emerging Markets Submitted by Drdutta 
3 months ago Add Tag |
By 2015, if all goes as planned, Indian real estate majors – DLF, Emaar and Unitech – will have more hotel rooms than the established hoteliers.
DLF Ltd, the country’s largest real estate company by market cap, had just announced a $400 million deal to take over Aman Resorts, a chain of 22 luxury hotels and spas
spread across 12 countries. Clearly, DLF is a serious player, given that it plans to spend $5 billion to build 125 hotel properties with 25,000 rooms over a seven-year period.
DLF is not the only real estate player in a hurry to build hotels in the country. EmaarMGF has lined up nearly Rs 12,000 crore to build 26,000 hotel rooms in the next 10 years, having already tied up with a host of international players to manage and operate these hotels. They include haute couture Armani Hotels, Marriott International, Premier Inn, Accor, Four Seasons, Hyatt Group and InterContinental Hotels Group.
Unitech, the country’s second largest real estate company, plans to build 35 hotels containing 5,800 rooms in all, over the next five years. Capex for construction has been pegged at Rs 2,400 crore.
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