Kerala targets Rs 1500 crore investment in tourism sector

Kochi, Sep 23 (UNI) Kerala is targeting an investment of about Rs 1,500 crore in the tourism sector this year as against about Rs 1,000 crore last year, State tourism department officials said.

Talking to UNI here, they said that the internationally renowned hi-end resort and spa group 'Banayan Tree' had recently announced a Rs 100 crore venture on the Vembanad lake. The work on the project is expected to start soon.

Another international chain Radisson had recently completed its resort in Kumarakom and this would be open from this tourism season, they said.

While most foreign investors preferred to come in with a local partner, 'Banayan Tree' was coming here on its own, they said.

While there was an increase of almost 13 per cent in foreign tourist arrivals, the number of rooms was increasing at about 15 per cent every year. Even then, there was 100 per cent occupancy in all major hotels during the season.

With a surge in domestic tourists, particularly honeymooners, there was no off-season this year, with hotels reporting more than 80 per cent occupancy even during the normally lean April-September period, they said.

UNI ARC DK1408