Announcement

Collapse
No announcement yet.

Hotels Queue Up to Make Noida a Hub

Collapse
X
Collapse

Hotels Queue Up to Make Noida a Hub

Last updated: March 27 2013
11 | Posts
3961 | Views
  • Time
  • Show
Clear All
new posts

  • Hotels Queue Up to Make Noida a Hub



    Marriott, Hyatt, Oberoi See Room for Growth along Noida Expressway
    MEENAKSHI VERMA AMBWANI NEW DELHI

    The next big battle among hospitality players is expected to shift to the Noida-Greater Noida Expressway. Current trouble over land acquisition in the area notwithstanding, the 25-km stretch could be the next hotspot for tourism, conventions, glitterati events, nightlife and shopping as several big hotel groups such as Marriott, Hyatt, Starwood and Oberoi, are firming up their plans already.
    Analysts expect more than a dozen five-star hotels, with an estimated inventory of around 2,500 rooms to come up in the area, making it the biggest hotel hub anywhere in the country.
    “Availability of land in New Delhi to construct future hotels is low. As the most projects on the expressway come under mixed land use category, it has created an opportunity for hotel firms to bring their brands into the NCR region," said Akshay Kulkarni, director-hospitality, Cushman & Wakefield.
    Some of the projects that have been already announced include Marriott Hotel, Marriott Executive Apartments and Fairfield Inn. Hyatt Hotels & Resorts will operate Grand Hyatt with 600 rooms on that stretch. Jaypee Hotels is running a resort and plans to build a luxury hotel with 650 rooms. Sources said East India Hotels will also set up an Oberoi along the expressway.
    “The number of rooms available in New Delhi are about a tenth of the rooms available in Beijing. Hotels on the expressway are expected to cater to guests from the large supply of commercial and residential complexes coming up on that stretch of land. In addition, tourists arriving in New Delhi and Agra as well as for the Formula One in nearby Greater Noida are expected to create demand in that region,” said Navjeet Ahluwalia, senior vice-president, hotel development, Marriott Hotels.
    Starwood Hotels & Resorts is learnt to be looking at bringing its luxury brand St. Regis and W in that region. Managing Director, India and Regional Vice-President, South Asia, Dilip Puri, said, “We are in talks with developers to bring more than one hotel brand in that region." But he refused to share details.
    Carlson Hotels South Asia executive vicepresident, KB Kachru said the company is in talks with developers to bring a five-star property on the expressway.
    In addition, hotel companies that were allotted projects by the UP government in 2007 are also likely to construct hotels after the recent Supreme Court judgment. The hotel projects were allotted to companies including Lalit Hotels, ITC Hotels, Taj Hotels, and Park Hotels among others.
    ITC is still evaluating whether it would pay three times higher amount to be able to build a hotel on the plots. Some others like Lalit Hotels are not going ahead with its plans to build a hotel and will seek a refund.
    “We believe the overall cost of the project would be economically unviable for us. So we will be filing for a refund of our entire money that we had paid upfront for the plot," Lalit Suri Hospitality Group CMD Jyotsna Suri said. Canadian luxury brand Four Seasons, Intercontinental Hotels’ brands, including Crowne Plaza, Holiday Inn and Holiday Inn Suites, are also going to be in the vicinity of the Noida-Greater Noida Expressway. Hotels chains such as MGM Mirage Hospitality, Hilton Hotels India and Hotel Leelaventure are also evaluating options for management contracts.
    Ankita Mehta, vice president, hospitality & commercial, Logix Group, said, “The availability of large tracks of land on the Expressway will lead to the development of five star and luxury hotels in the area.” Logix Group is developing hotels, which will be managed by Marriott Hotels in that region.
    Hotel consultancy firm HVS India said it was tracking 30 hotels where construction has started in Noida and Greater Noida and an estimated 7,000 rooms are expected to come up in the region by 2014-15.
    “The commercial and residential complexes need to be developed at the same pace as the hotels as they would create the demand for hotels being built in that region,” said Kaushik Vardharajan, managing director, consulting & valuation practice, HVS India. He added that in the short term such a large supply of hotels could create pressure on occupancies as well average room rates.

    Article Window
  • #2

    #2

    Re : Hotels Queue Up to Make Noida a Hub

    A Very Good News, I must say..

    Five Star Hotels really make an Area look good ... Even if Half of them comes up, along with commercials and Residences, it would one of the most beautiful stretch in NCR...

    Comment

    • #3

      #3

      Re : Hotels Queue Up to Make Noida a Hub

      Most of such articles are paid these days, builders keep spreading such things to create that hype.

      Comment

      • #4

        #4

        Re : Hotels Queue Up to Make Noida a Hub

        Hotel consultancy firm HVS India said it was tracking 30 hotels where construction has started in Noida and Greater Noida and an estimated 7,000 rooms are expected to come up in the region by 2014-15.

        i checked the CVS website, indeed , this consulting firm is claiming that 30 hotels ar ecoming up on expressway. can someone name or locate the projects.

        Comment

        • #5

          #5

          Re : Hotels Queue Up to Make Noida a Hub

          Chirag,
          U point is partly correct.
          The above mentioned 8 hotels were supposed to come up in between Sec-96 to 143. Land was allotted to the owners during msy ruling but all of them got stay once bmw came in power. They were all supposed to be operational by 2010 and we would have seen the true value of eway today. Anyway, it is still not confirmed whether issues(which are more based on ego) have been sorted out or not. But all said an done once issues are sorted which is bound to happen, we shall see light of the day.
          MM

          Comment

          • #6

            #6

            Re : Hotels Queue Up to Make Noida a Hub

            Agree that Xpressway has great potential but i do not see these many Hotels coming up until and unless there is growth in industry. There will be everything but dependency is industrial sector.

            Originally posted by Munish Malhautra View Post
            Chirag,
            U point is partly correct.
            The above mentioned 8 hotels were supposed to come up in between Sec-96 to 143. Land was allotted to the owners during msy ruling but all of them got stay once bmw came in power. They were all supposed to be operational by 2010 and we would have seen the true value of eway today. Anyway, it is still not confirmed whether issues(which are more based on ego) have been sorted out or not. But all said an done once issues are sorted which is bound to happen, we shall see light of the day.

            Comment

            • #7

              #7

              Re : Hotels Queue Up to Make Noida a Hub

              Moreover derez no motivation for the Govt. to encourage IT companies in the area as IT companies do not deal in black money. Corrupt and uneducated leaders care abt the under table money only...

              Comment

              • #8

                #8

                Re : Hotels Queue Up to Make Noida a Hub

                Want land for hotels on G Noida Expressway, pay 3 times: SC

                Want land for hotels on G Noida Expressway, pay 3 times: SC - The Economic Times





                NEW DELHI: The Supreme Court on Tuesday upheld the allotment of land to hospitality giants for construction of star hotels on the Noida-Greater Noida expressway, but asked them to pay almost triple the original price if they still wanted to retain the allotted land. The land was allotted by the thenMulayam Singh Yadav government to cater toCommonwealth Games 2010.

                When the regime changed and Mayawati took over the reins of government, the state administration sought to nullify all allotments made during the chief ministership of Mulayam, alleging that land worth crores were given away for a song.

                A bench comprisingJustices R V Raveendran and A K Patnaik said if the hoteliers were not interested in the land, then they could claim a refund of their original payment from the UP government with interest.

                The petitioners have challenged an Allahabad High Court judgment of May 13, 2007, finding no basis in the allegation that the lands were allotted for a song but gave liberty to the state government to take a fresh decision in the matter.

                Appeals against the HC judgment were filed byITC Ltd,Indian Hotels Company Ltd, Bharat Hotels Ltd andHampshire Hotels & Rest (Noida) and others.

                The hoteliers were aggrieved by Mayawati government's decision to cancel the allotment of land after allegations surfaced that land worth crores were given away cheap.

                The decision could spur development of hotels on the busy expressway in the run up to the Formula One racing competition, and could also help theNCR emerge as a major conference and tourism hub. The decision could also add to much-needed hotel rooms in the area.

                Comment

                • #9

                  #9

                  Re : Hotels Queue Up to Make Noida a Hub

                  guys in my last trip to gnoida i noticed hotel crowne plaza in final stages of construction near the entry point into gnoida from dadri road

                  any idea who has constructed that ?

                  Comment

                  • #10

                    #10

                    Re : Hotels Queue Up to Make Noida a Hub

                    Also, Hotel Hyatt is also taking shape near Mahamaya Flyover. I think around 4 - 5 floors are already built. (just adjacent to Supertech Supernova site)

                    Comment

                    Have any questions or thoughts about this?
                    Working...
                    X