Noida-Greater Noida Expressway is going to have one more addition to its glory as the top brand Hotels such as Marriott, Starwood, Oberoi and Hyatt have turned their interest in this locality.
As per the Analysts, it is going to be one among the greatest hotel hub in the country with an addition of around 2,500 hotel rooms. Projects such as Marriott Hotel, Marriott Executive Apartments and Fairfield Inn are already announced. These projects are expected to be very successful as the tourists will arrive in New Delhi, Agra and Formula One which is close to Greater Noida.
Akshay Kulkarni, director-hospitality, Cushman & Wakefield has recently said that “Availability of land in New Delhi to construct future hotels is low. As the most projects on the expressway come under mixed land use category, it has created an opportunity for hotel firms to bring their brands into the NCR region”.
After the recent Supreme Court judgement, hotel companies that were allotted projects by the UP government in 2007 are also likely to construct hotels. In the list of hotels, Canadian luxury brand Four Seasons, Inter-continental Hotel’s brands, including Crowne Plaza, Holiday Inn and Holiday Inn Suites are also going to be included.
Ankita Mehta, vice president, hospitality & commercial, Logix Group, said, “The availability of large tracks of land on the Expressway will lead to the development of five stars and luxury hotels in the area.” Marriott Hotels will manage the Logix Group Hotels.
HVS India, a Hotel Consultancy firm has tracked that construction of around 30 hotels has started in Noida and Greater Noida. They also believe that average room rates may get affected by the large supply of hotels in such a short term and may also create pressure on occupancies.