Hospitality Sector

Hyatt aims at a strong luxury positioning
G Balachandar, Dubai, March 22, 2011
Financial Chronicle

International luxury hotel chain, Hyatt Group, seeks to emerge as a key constituent in the hospitality map of India and is gearing up for expansion. It is embarking on an ambitious medium- to long-term India plan to service not only foreign travelers to India, but also to build a strong luxury brand among the Indian travellers with its 5-star deluxe offerings.

With a strong global footprint in key gateway cities that provide a foundation for expansion in high growth markets like India, the group is optimistic about creating its brand experience in the country with a combination of international flavor and local touch.

Hyatt looks to put plans in Place
Vinay Kamath, Chennai, March 22, 2011
The Hindu Business Line

Peter Fulton is an old India hand. As the Hyatt chain grows in India, Fulton, a New Zealander, is leveraging his India experience to put plans in place, literally.

While Hyatt is expanding the presence of its full-service hotels with its top-end brands such as Grand Hyatt and Hyatt Regency – a 327-room Regency is to open shortly in Chennai –Fulton knows it is time to introduce in India its select service brand, Hyatt Place, targeted at the mid-market. Also on the anvil is Hyatt Summerfield Suites, an extended stay brand. “We should open our first one in the next 18 months in India. Summerfield Suites is also coming along; we are working on a couple of opportunities. We see that as being a growth driver for India.”

Infrastructure

Gurgaon’s Rapid Metro to run from 2013
March 22, 2011
Mail Today

Gurgaon’s Rapid Metro, the country’s first privately funded Metro project, will be operational from January, 2013. The trains on the corridor will have coaches made of aluminum with air conditioning to cope with temperature more than 50 degree Celsius.

The city’s internal metro, which connects the existing Sikanderpur station with DLF- 3, is expected to give a boost to the public transport system in Gurgaon.

Haryana Real Estate

Haryana allots industrial plots for 28 projects
Chandigarh, March 22, 2011
The Hindu Business Line

The Haryana Government has sanctioned industrial plots to several corporates, including Hero Motors and Amtek Auto, for setting up their projects entailing investment of Rs 2,500 crore. The high-powered plot allotment committee finalized allotment for 28 projects, involving a capital investment of about Rs 2,500 crore, which would generate an employment for 9,000 persons directly, said the State Industry Minister, Randeep Surjewala, in a release issued here

Commercial Real Estate

Comm property to see robust demand in 2011 first half: Survey
Economic Times

NEW DELHI: The demand for commercial property in the country is expected to remain robust in the first half of 2011, boosted by strong manufacturing activities, says a survey.

“… Despite the expectation that interest rate hikes will continue in the first half of 2011, the growth profile of commercial property remains quite robust on account of a strong manufacturing sector,” an RICS India Commercial Property Survey released today said.

The Royal Institution of Chartered Surveyors (RICS) acts as a self-regulatory body for qualifications and standards and has more than 1,50,000 property professionals as members.

Linked Economies: US and India

When India prospers, US will prosper better: Warren Buffett
Economic Times

BANGALORE: Billionaire US investor Warren Buffett Tuesday said America will prosper better if countries like India prosper.

“I am an enormous believer in trade… Trade is essential for world prosperity. The more countries like India and China prosper, America will prosper better,” he told reporters soon after arriving here on a visit to India that will also take him to Mumbai and New Delhi.

He was answering a question on the perception in the US government and other circles that India, particularly Bangalore, was taking away American jobs.

Revenue nears $2 bn; to hire a few thousand in India: Dell
Economic Times

NEW DELHI: The world’s second largest computer-maker Dell today said it is approaching $2 billion in annual revenue in India.

“$2 billion is the milestone that our India team is now working on,” Dell Chief Executive Officer Michael Dell told reporters here at a FICCI event.

He, however, did not give a timeframe for the target to be met, nor did he elaborate on the company’s current annual revenue in India.

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