Listed hotel chains take the road less travelled to find new growth in obscure locations
New Delhi, Sept. 1 -- As the country's domestic tourism grows, riding India's buoyant leisure travel trend, listed hospitality companies are rapidly signing up hotels in obscure micro-markets from Barapani to Maniyagarh Hills and Omkareshwar.
Hotel companies are fanning out, looking aggressively for contracts to increase not only their income from management fee but also to widen their presence across tier-III and IV markets as development peaks in the bigger cities.Recent signings include ITC Hotels' Storii at Amchong Tea Estate on the outskirts of Guwahati and a Welcomhotel in Salasar, Rajasthan. Taj parent Indian Hotel Companies Ltd added properties in Jawai, Bharatpur, in Rajasthan, Sindhudurg in Maharashtra and signed one in Barapan...
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