Currently, there are around 25 to 26 hotels in various categories operating in Kolkata. In the premium category, there are around 1,476 rooms. Total number of rooms is expected to be 2,465 by 2011. Of them maximum number of 1,200 rooms will come up in the mid-market hotels. This is followed by First Class Segment, which will add total rooms of 700. In the budget segment, however, only 240 rooms will be added, a study done by Noopur Agarwal of Asia Real Estate Practice at Northbridge Capital said. Hotels chains like Intercontinental Group, Marriott Hotels and Resorts, Hilton Group, Peerless Group, Sarovar Hotels, as well as DLF in joint venture with Dubai-based Emaar Group are setting up five-star and five-star deluxe properties in the city. Hotels like Grand Great Eastern Hotel as well as MBD Airport Hotel are currently under renovation and are expected to add to the upcoming supply of rooms.
The horizontal expansion of the city limits in the eastern and north-eastern part of Kolkata, including Rajarhat and Salt Lake, has seen many global IT companies setting up operations there. The proximity to the airport, availability of large land parcels and upcoming industrial set-ups has fuelled the demand for hotels to be located in this region.
Kolkata's attractiveness as an investment option is increasing due to the city developing as a major industrial and medical hub and the lack of new hotels opened this year. The promotion of large-scale IT and non-IT industries in West Bengal will further enhance the demand for hotel rooms, the study said.
According to the study major developments in the city are along the eastern, southern as well as western locations. The growth of the IT/ITES sector in the city has lead to growth in retail, hotels and residential properties. Government agencies have played an active role in the IT sector with the promotion of Salt Lake City and New Town, Rajarhat as IT destinations.
Yatra Capital has invested approximately 6.3 million USD to acquire 40 per cent stake in Jalan Intercontinental Hotels Private Limited. Most of the hotels like Taj Bengal, Oberoi Grand, Hotel Hindusthan International&The Kenilworth Hotel are located in the CBD.
Other hotels like Hyatt Regency, ITC Sonar Bangla and Sheraton Hotel&Towers is located in the upcoming new business sectors along the Salt Lake and Rajarhat.