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The hotel sector in India is witnessing phenomenal growth, fueled by the robust growth of the Indian economy, rising domestic and foreign tourism, and a shortage of supply of hotel rooms. According to Government of India statistics, in 2006 India has a shortage of around 150,000 rooms across the country. While the demand for rooms is growing at a CAGR of 15%, supply is only growing at a CAGR of 8.3%. Average annual occupancy rates across 3-5 Star hotel categories have exceeded 70% since 2002. With current availability of approximately 120,000 rooms in the country, even China has 10 times more available rooms while the United States has 40 times more. The Indian government is also planning various SOPs to help aid the development of additional rooms.
Going by these trends, IHC in July 2007 acquired Gordon House Hotels as part of the Mars Group. The group currently has three properties, but has ambitions to build and manage in excess of 25 by 2012 via both organic and inorganic growth.
For more information, please visit http://www.ghhotel.com
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