According to a report in Business Standard by Swaraj Bassonkar, Delhi-based real estate investment company, Duet India Hotels, with interests in the development of hospitality assets in India, will invest Rs 2,300 crore over four years to build 5,000 hotel rooms in India. The company, which will invest in both mid-scale segment and will set up five-star properties, has tied up with New York-based Starwood Hotels & Resorts Worldwide to develop its hotels, to be run under the brand name of Four Points by Sheraton. Likewise, Duet aims to join hands with other international hotel players to launch their brands in the country.
Dilip Puri, CEO, Duet India Hotels said, “Apart from a handful of domestic hotel brands, in India there is a sheer lack of presence of any international brand name within the mid-scale segment. Our focus is to bring international hotel brands to India, while keeping the domestic traveller as our primary target. Looking at the recent meltdown in the industry, we would like to be less dependent on the global travellers.” |