India’s next phase of hotel development is being driven by companies that don’t operate hotels. On Monday, real estate developer Omaxe announced its entry into hospitality with plans to invest about INR 62 billion ($656 million) to develop 19 hotels across 13 cities over the next four to five years.
This comes a month after Adani Airport Holdings partnered with IHG Hotels & Resorts to develop five airport-linked hotels, an evidence of the growing appetite among property developers to build hotel portfolios amid a prolonged demand boom.
The company said it will develop hospitality assets integrated with its townships, mixed-use developments and public infrastructure projects. The portfolio will include business and leisure hotels, luxury properties, pilgrimage-focused hotels and branded serviced apartments.
The announcement comes as large infrastructure and real estate companies expand beyond their traditional busine