Delhi-NCR to house 14 times more hotel rooms by 2015
WITH THE entry of big hospitality brands and many other potential projects in planning, Delhi-NCR is fast emerging as one of the largest hotel market in the country.
By year 2015, Noida and Greater Noida will have 4,268 rooms from existing 300 rooms of upscale and midscale hotel type, says Cushman & Wakefield, a real estate adviser for the hospitality industry.
Noida, the industrial development area next to New Delhi, is fifth in the development site sellers’ list in Asia.
It is estimated that Noida and Greater Noida will have three budget and three mid-scale hotels by year 2014 and nine upscale hotels and three luxury hotels by year 2015.
ACCOR Group, the largest international operator of hotels in Asia Pacific, has introduced its low-budget hotel chain, Formule 1 in Greater Noida.
“We have plans to open four Formule 1 Hotels by the end of this year and another six by end of next year,” said Philip Logan, Vice-President, Formule 1.
According to the report by HVS Global Hospitality Services, Mumbai and Delhi-NCR have the maximum number of supply available of the 12 markets analysed, followed with a wide margin by Bengaluru.
Another entrant in Greater Noida is Jaypee’s Greens Golf and Spa Resort. It opened its doors for domestic as well as international travellers recently. The super-luxury designer resort offers 170 elegant rooms (152 deluxe room and 18 suites) with the six senses spa.
Noida is fifth in the development site sellers’ list in Asia
By 2014, Noida and Greater Noida will have three budget and three mid-scale hotels and by 2015 nine upscale hotels and three luxury hotels
As per global hospitality consulting and services firm, HVS NCR witnessed a growth of 15% in supply in 2010/11
Marriot Hotels is also coming up with three major properties in Noida and Greater Noida.
As per global hospitality consulting and services firm, HVS NCR witnessed a growth of 15 percent in supply in 2010-11. Going forth, HVS is tracking over 90 hospitality development projects with an estimated 18,608 rooms.
However Manav Thadani, Chairperson, HVS-India feels that the truth about Noida is that most of the annoucements for hotel developments are coming from real estate companies, which are interested to see an upside in valuations for their real estate business but may not necessarily build many of these hotels.
“The real estate developers are tying up with hotel operators who are getting fooled or perhaps greedy to get another hotel in their development pipeline which allows them to get their quota of hotels and collect their bonus targets,” he said.
“Currently everyone benefits so no ones questioning anything. We do believe that 8-10 hotels will get built in the next five years but no where close to what consultants are talking about,” he added.
A report by HVS shows that other growth areas in Delhi-NCR is the DAIL Aero city (15 hotels under planning and development), Gurgaon. Dwarka, West and East Delhi continue to see active hospitality-focused developments.