Indian homegrown hotel companies are looking beyond the country, even as some of the world?s best known hoteliers are making a beeline for India.
Indian companies are on a lookout for stand-alone properties in the US and Europe, which are up for grabs following losses they made during the global slowdown and also to use them tap into the growing breed of Indian travelers. Top Indian hotel brands such as the Taj Hotels and Oberoi group have been on the forefront of international expansion, but some other players such as the Bird Group, Claridges Hotels, Sarovar Hotels, Zuri Group and Royal Orchid Hotels are looking for opportunities overseas.
According to Siddharth Thaker, managing partner of Prognosis Global Consulting, more Indian hotel firms will achieve critical mass in the domestic market and look at international opportunities. “They are increasingly looking at high growth markets besides evaluating asset sales in the developed markets after the recession,” he added