Buying land and then building hotel has become unviable: Hotelier

Buying land is one of the main issues plaguing the hospitality industry, says hotelier Abhishek Goel.

"Constructing a hotel after buying a land has become unviable. It's impossible right now to purchase land in the heart of the city, or even outside like this hotel, construct a full-fledged hotel and break even in less than 20 years," says Goel, the owner of Regenta LP Vilas.

The 29-year-old says his establishment, which is managed by Royal Orchid Hotels, was possible because they had land. "(If) we had to buy even land, it would've been impossible."
Now, Goel says, in everything, from raw materials to all the services, there is a input tax credit. "Even if I build 30 rooms and buy TV sets, I get the input in that too."