Thursday, February 22, 2007

Amritsari 5-Star Hospitality

Punjab Real Estate: A Holy Trip and a 5-Star Stay

A trip to the Holy City of Amritsar will no longer mean putting up at the local serai or taking a room at the Gurdawara. With Radisson chain of hotels tying up with Concord Hospitality to market and manage the proposed 200-room hotel, after paying obeisance at Harmandir Sahib, one can stay in the 5-star comfort of Radisson's hotel that is to be set up on 4.5-acres on Airport Road, all at a cost of Rs. 80-crore.

An important pilgrimage centre for the Sikhs in India, as well as, the Sikh Diaspora, Amritsar is also a major centre of trade, transportation and manufacturing. And, Mr. Gunbir Singh, CEO of Divine Destination anxious to promote the city as an important destination for tourists says: "There is big potential for the growth and expansion of the hotel industry here. As of now, there is a dearth of hotel rooms in the city, as the city sees a floating population of nearly two-lakhs, people who come daily to visit the holy shrine." And, the NRI onslaught begins soon after the rains, in the peak season of October to March, when they visit family and relatives in India.

With nearly 58-flights out of Amritsar per week, and more scheduled to start operations, including an increasing number of incoming flights, the demand for hotel rooms is bound to rise. It is this, which causes Mr. Gunbir Singh to say, over the next few years, there is a substantial need for upgrading hotel accommodation, and some 1,500 extra rooms required in all categories to cater to the tourist inflow. As well, as multiplexes, villas, luxury apartments, service apartments and penthouses have changed the look of Amritsar, including the lifestyle of its denizens; so much so, the demand for upscale hotels and restaurants has been pushed up.

India with 26-world heritage sites and excellent beaches is expected to see domestic tourism touch the $121.4-billion mark. To reap the benefits of the tourist trade, it will have to build more hotels and motels to suit the pocket of every kind of traveller. For those in the hospitality trade, the time is ripe to expand by buying into Indian real estate and catering to the tourist trade.

Residential, commercial, retail, hospitality, the market demand for Indian real estate remains high, both from investor and end-user point of view!

http://a1articles.com/article_56389_29.html