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The recently listed real estate developer said it plans
to begin operations at the the 230-room hotel by 2010.
In a filing to the Bombay Stock Exchange, DLF also
said it is well poised to achieve its target to build
and 'own' India's largest hotel assets with over 25,000-30,000
guest rooms in the next 7-10 years.
In Nov 2006, DLF Hotels had announced its first joint
venture with The Hilton Hotels to develop 60-75 business
hotels throughout India.
A booming economy and a totally inadequate supply
of hotel rooms are drawing global chains to India, where
the expensive real estate is forcing them to find local
developers as partners.
India has about 120,000 hotel rooms and needs an additional
125,000-150,000 rooms over the next five years, analysts
feel
Source: www.forbes.com
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