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Kolkatta Rising! Investments of 4000 crore expected.

According to HRAEI, investment in the upcoming 5-star, 4-star and 3 star hotel projects would be approximately Rs 3,500-4,000 crore. "Since there is a lack of adequate banquet facilities, especially for more than 2,000 people, these brands would ideally target social events, banqueting and marriage facilities. The target audience of these hotels would also include business clients, IT sector and transit passengers," Poddar said.



The upcoming hospitality biggies include the likes of InterContinental Hotels Group (Holiday Inn), Starwood Hotels & Resorts Worldwide (Westin), Carlson Rezidor Hotel Group (Radisson Blu) and JW Marriott.ITC will also launch its second property in the city. Hoteliers too are expecting a good season ahead. Spread on an area of 3.5 acres, Marriott that would be launched by the end of 2016 will add 291 keys to the city's present inventory.

Read more at: http://economictimes.indiatimes.com/articleshow/52828138.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

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