Prestige plans to more than double hotel rooms

Prestige Group is planning to more than double rooms in its hospitality business to 3,100 over the next four years.

The real estate developer recently signed a partnership deal with Marriott International. Prestige’s chairman and managing director Irfan Razack said once the new hotel rooms become operational, the portfolio will contribute about Rs 1,200 crore in rental income to the group.

The Bengaluru-based Prestige Group currently has 1,250 operational keys across different brands. Razack was quoted as saying by Economic Times: “There are not many industries in the world that have the resilience and optimism of the hospitality sector in India.:

He added: “Projected to be worth Rs 1,21,097 crore by 2023, the Indian hospitality sector today is witnessing an upward trend across mid-scale, upscale and luxury segments.”

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