More Realtors Check Into Hospitality

Fearing a supply glut in the housing and commercial property markets, real estate companies are pinning hopes on the booming hospitality sector.

It’s not that the trend has just set in. It has certainly gained momentum of late, with practically every developer announcing hospitality projects.

All major players in the real estate sector, such as DLF, Parsvnath Developers Ltd, Purvankara Projects and others, are looking to grab a piece of the action in the hotel industry. Builders undertaking sprawling township are also including hospitality in their project.

Mr. Ashok Narayan, L Lachmandas & Co, said, “Of all segments in the property market, hospitality seems to be the best bet, with average room rates (of hotels) still shooting up and supply remaining subdued. It also offers permanent income as against one-off earning in other realty projects”.

One Comment

  1. Posted May 12, 2008 at 12:41 am | Permalink

    Obviously where the Real estate sectory grown the hospitality facility will be facilitate there either it is free place or not or the Residential level.Because every person have requirement in the longlife at anytime so fot that it is must.

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