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By Cushman & Wakefield exclusively for Hotelier India

India’s financial capital, which is the largest contributor to India’s taxes, is seeing a burgeoning growth in its hospitality sector.

Mumbai, the capital city of Maharashtra, is one of the largest metropolitan cities in the country with a population that ranks fifth in the world. With modern infrastructure and contemporary city facilities, Mumbai has a colourful history that glitters with legendary tales of Maratha valour.

The commercial capital of India enthralls you with monuments that are legacies from the past. The city has the Gateway of India, Haji Ali Mosque, Elephanta Caves, Flora Fountain, Victoria Terminus and several other attractions for tourists.

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From being a manufacturing and textile centre, the city has evolved into a major financial and trading center. Aptly referred to as the commercial and business capital of India, Mumbai houses important financial institutions such as the Reserve Bank of India (RBI), the Bombay Stock Exchange (BSE), the National Stock Exchange (NSE), along with all major industrial powerhouses and financial corporations in the country.

The city is the largest contributor to the India’s taxes and half of India’s international trade passes, through its splendid harbour.

In addition to the service and manufacturing sector, Mumbai is also home to India’s foremost Hindi film and television industry – Bollywood. Mumbai’s importance as a business and leisure destination has made it one of the most sought after hospitality location in India.

Most of the first generation hotels in Mumbai were located in South Mumbai coinciding with the actual centre of business in and around the area of Nariman Point, Churchgate and Ballard Estate.

However, there has been a gradual shift northwards with locations like Bandra Kurla Complex (BKC), Andheri, and Malad coming up as important business districts.

These are also areas that are in close vicinity to the International Airport, making them easily accessible for business travellers. Needless to say, these areas have already attracted the attention of hoteliers.

The northern suburbs are the new hub of upper upscale and upscale hotels. JW Marriott, Taj Lands End and The Renaissance Mumbai Hotel and Convention Centre are a few major players in north Mumbai.

The top hotels namely Hyatt Regency, Intercontinental – The Grand, Le Royal Meridien, ITC Grand Maratha Sheraton and The Leela are centred around the Chattrapati Shivaji International Airport in Andheri.