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Article: Indian Hotel Industry Poised for Major Expansion
- Article from:
- Xinhua News Agency
- Article date:
- June 9, 1996
CopyrightCopyright 1996 Xinhua English Newswire. Provided by ProQuest LLC. (Hide copyright information)
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The Indian hotel industry is poised for a major expansion to cope
with the increasing demands from tourists and business executives
from abroad, the Press Trust of India (PTI) reported today.
Some of the leading players in the Indian hotel industry such as
the Taj and the Oberoi group are planning to invest a whopping 2,500
crore rupees (about 714 million US. dollars) in the next five years.
liberalization of India's economy has virtually opened the
floodgates for the hotel industry with the sudden surge in the
arrival of foreign investors wanting to do business in the changed
atmosphere, one of lesser controls and regulations.
According to the PTI ...