Despite, the economic slowdown, global majors see positives in the hotel business in India. Reasons could be the crash in landprices and the demand for hotels in major cities. Many leading players have announced new projects in the sector. Hyatt, has announced its intention to acquire 20 properties in tier I & tier II cities in India. Similarly, Marriott International is proceeding with its plans to build 7 hotels in Indian cities. Hilton group has also announced its premium brand hotel ‘Doubletree’ in Gurgaon.

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With recession setting, many conference managers, prefer to cut cost and they find Indian hotels a bit steep, when compared to other destinations like Kulalampur, Dubai or Srilanka. One find hotels are cheaper by 40-50% when compared to India. What is more worrying for the Indian hotels, are that even Indian companies are looking out to cut costs and prefer to have these events abroad.

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