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India- Hotel industry requires USD13.09b worth of investments  Join our daily free Newsletter

MENAFN - 01/11/2012

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(MENAFN) The South India Hotels and Restaurants Association's former President and Executive, Vivek Nair, stated that in the coming 4-5 years, the country's hotel industry would require at least USD13.09 billion worth of investments, reported Xinhua News.

Nair said that the amount would be used to add 180,000 rooms, covering 1-5 star categories.

He stressed that India must focus more on developing products across its east and west coasts to introduce hotels and resorts on beach fronts, as they attract a large number of foreign tourists, mainly from Russia and oil-rich countries.

The government has allocated around USD6.36 billion for the tourism sector, to attract 12.4 million tourists annually in the coming couple of years.

It is worth noting that at the current time, India has 120,000 star-category rooms.

 






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