Non-resident Indians, especially those with the Gujarati surname Patel, have dominated the economy segment of the American hotel industry for decades. But now, Indians who have made their money in other businesses back home - in Kolkata to Coimbatore and New Delhi to Hyderabad - are increasingly taking over the keys from distressed owners in the US who are selling at rock-bottom prices to repay their growing debt as per a report in ET by Meenakshi Verma Ambwani.

This is especially the case in the warmer states, such as Florida and Nevada, where vacation homes are the first to be put up for sale in the market which remains stubbornly depressed three years after the economic crisis hit home. 

Prices have dropped to as low as Rs 10 lakh per room in some locations close to the mega tourist attraction Disneyland in Florida's Orlando, for example, says V Santhana Raman, chief executive of Ace Hotel Brokers India. In contrast, he says, properties in tourist destinations such as Kumarakom in Kerala back home command up to Rs 1 crore per room. 

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