The Wadhawan group is planning to set up nine hotels, in four and five-star categories, at an investment of Rs 1,000 crore in the next five years, according to Kapil Wadhawan, chairman of Wadhawan Holdings, the holding company of the group.
“We will not be in a hurry,” said Wadhawan. “We will launch them slowly...at an appropriate time. The plan is that all nine hotels will be up and running five years from now.” Wadhawan is not alone. About 15 companies, some of them new, are planning to set up 600-odd hotels in India to tap the demand from business and leisure travellers.
According to estimates, Shanghai, the second biggest city in China, has more organised rooms to offer than the whole Indian market, which is struggling at little over 100,000 rooms.