New Delhi: The domestic hospitality sector expects 52,000 new hotel rooms to be added in five years (2013-17), says a survey by real estate consultancy Cushman & Wakefield. This will mean a rise of over 65 per cent in total hotel inventory.
Despite a slower response, the sector is expecting better demand in the coming years on account of improved global economic conditions, the survey says.
The National Capital Region (NCR) is expected to contribute around one-third to the total expected hotel rooms supply in the period. Kolkata at 105 per cent will witness the highest percentage increase in inventory by adding 3,813 rooms by 2017, it said.
Pune at 41 per cent will add the lowest number of rooms (2,853) to its existing 6,970.
Many hotel projects, which were delayed in the last two years, are also expected to get completed. Akshay Kulkarni, Regional Director – Hospitality, South and Southeast Asia, Cushman & Wakefield, said: “Even while India is considered to be an attractive market for both leisure and business travel, there are some inherent deficiencies due to which hospitality projects have hitherto taken long to come up including aspects like funding and regulatory issues, which have either delayed or in some cases stalled projects.”
Mid-scale hotels
The survey added mid-scale hotels are expected to see the highest supply of 18,500 units, followed by luxury which is estimated at 10,300 units, contribute 36 per cent and 20 per cent, respectively, to the total expected supply.
Budget (9,000 units), upscale (6,800 units) and upper upscale (6,900 units) are estimated to be contributing approximately 44 per cent to the total supply in the next five years.
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