The average rent per day in five star hotels in the city towered to as much as Rs.11,000...

The maximum growth in ARRs was witnessed in Bangalore, backed by the demand from the ever growing IT industry (and its much frequent expat-driven seminars). The average rent per day in five star hotels in the city towered to as much as Rs.11,000, a swell of 25% as compared to year earlier. The soaring numbers have once again brought back the hotel industry into the limelight. More than 120 luxury hotel projects have already been announced. In order to cash in, Taj Group has announced its plans to build (or acquire) 23 additional hotels, adding more than 2,000 rooms to its war chest. Even realty players like DLF are entering the new battleground, which has already seen international hotel brands like Amanda, Satinwoods, Banana and many others announce their India plans. So the next time you have a fight with your wife and are thinking of trudging up to the nearest hotel, better call up before leaving your home!

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Editor: Arindam Chaudhuri; Source: B&E and IIPM Publication

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