04/27/2006
Boom Of Commercial Property
Starwood has said, it would jointly develop three more Commercial properties at Rs 750 crore with Vatika Hospitality Pvt Ltd and introduce the Westin brand in India. Vatika Group's subsidiary, Vatika Hospitality would manage two new Westin properties, Westin Resorts, Sohna to be launched in December this year followed by another in Gurgaon by 2007.
Commenting on the venture, President, Starwood Hotels and Resorts, Asia Pacific, Miguel Ko said: "There are definitely tremendous growth opportunities for us in the gateway cities and relatively underdeveloped resort market." Citing recent research, Ko said India is the fastest growing market in the Asia-Pacific for international tourist spending, which has grown to 25 per cent in the last quarter of 2005. This growth is expected to accelerate significantly over the next few years.
Source:www.indiatimes.com
07:55 Posted in Blog | Permalink | Comments (0) | Email this
The comments are closed.