Infrastructure investment will drive Indian hotels
Hospitality and infrastructure are closely entwined, more so in the coming years as an estimated US $50 billion is committed to Indian infrastructure.
“I encourage Indian hoteliers to consider the US $50 billion infrastructure investment to be made in the next three years as a key growth driver. These funds will have a positive impact on the immediate industry and the economy as a whole which is good for hoteliers,” said Chanda Kochhar, MD & CEO, ICICI Bank.
Kochhar singling out of infrastructure investment is in the context of Indian hospitality’s expected upgrade to an infrastructure industry this Budget.
“We know that projects in some areas under development take longer to deliver investment returns. We have 15-20 year infrastructure lending experience and even though hotels are not yet on the infrastructure list, we are comfortable with terms longer than 10 years because this is required," said Kochhar last month during her keynote address at the HIFI 2010.