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Taj group bullish on hotel ind

BS Reporter  |  Chennai/ Hyderabad 

The Indian Hotels Company Limited (IHCL), which runs the Taj group of hotels, is bullish on the in the country even though its at Rs 50.48 crore for the quarter ended December 2011 stood flat compared with the profit of Rs 50.29 crore posted in the same quarter previous year.

managing director and chief executive officer, Raymond N Bickson, said India had doubled its hotel rooms inventory from 63,000 in 2003 to 130,000 on Tuesday. “Yet the occupancy rate in the country remains high at over 60 percent,” he said adding that the would continue to see the same market trend.

Stating that domestic travellers had also increased from 420 million in 2003 to 740 million now, he said at this rate India would need 400,000 to 500,000 hotel rooms a few years down the line.

Keeping pace with this growth rate, is also expanding its hotel network and, according to Bickson, had opened one hotel in the country every six weeks during the past 7 years.

First Published: Wed, February 01 2012. 00:05 IST