38 new hotels
DESPITE reports of Bangalore losing its cherished position as India’s outsourcing hub, some 38 new hotels are being built in the city over the next few years, at a cost of Rs26.7 billion ($575 million) according to local news reports.
The local Financial Express said the addition of these new hotels, from five-star deluxe to economy and budget, will propel India’s Silicon Valley to the top spot in the country’s hospitality sector.
Local companies such as ITC, Taj, Oberoi and Bharat Hotels are set for new properties in Bangalore, while international names that have announced properties in the city are the Shangri-La, JW Marriott, Hilton, Oakwood and Carlson. Together they will add between 8,000 and 9,000 rooms, nearly doubling current room inventory. Some 3,500 are likely to be in the luxury segment alone.
The city is still likely to fall short of rooms, the paper quoted MN Javed, deputy director general at the country’s ministry of tourism, as saying. “Ideally a city like Bangalore should have at least 30,000 rooms in the star category.” He said the increase in supply was unlikely to impact tariffs, given the timetable for construction.