Courtesy: The Economic Times, 2nd April 2009
Synopsis of the news
A Recessionary business environment has net deterred hotel chains like Marriott, Accor, Hyatt and Roual Orchid from going a head with their expansion plans. Hoteliers view the downturn as a cyclical phenomenon and expect a revival by 2010-11.
Accor expanding its hotel network in India, with 48 hotels (9,980 rooms), which will be a mix of its brands.
Global Hyatt planning 20 new properties including 6 Hyatt Place hotels. Expansion will add around 6000 rooms
Marriott opening 24 new properties over the next few years with room inventory going over 10,000.
Royal Orchid adding additional 1,000 rooms to its inventory in 4- and 5-star category in the next 2-3 years.
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