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Tourism Finance Corp. to set up 16 hotels in NE

Tourism Finance Corp. to set up 16 hotels in NE
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First Published: Wed, Apr 11 2007. 04 01 PM IST
Updated: Wed, Apr 11 2007. 04 01 PM IST
Bloomberg
New Delhi: Tourism Finance Corp. of India will partner another project-financier to build 16 hotels in the country’s northeast, opening up the largely unexplored region to overseas visitors.
Some of the hotels, proposed to be funded jointly by Infrastructure Leasing and Financial Services (IFLS), will be located in cities such as Guwahati and Agartala, Tourism Finance Chairwoman Archana Capoor said in New Delhi today. Two five-star hotels will be among the 16 planned, she said.
“We need to tap the tourism potential of this region,” Capoor told delegates at a conference aimed at attracting more investments to a region that accounts for a 10th of India’s federal tourism budget. Growth in the market has lagged behind investments, said Capoor, who didn’t disclose financial details of the projects or the initial capital commitments.
India wants to expand its tourism circuits to the rain- lashed northeast and Buddhist pilgrimage centres, going beyond the tropical beaches of Goa and the golden triangle of the Taj Mahal, capital New Delhi and the Rajasthan deserts.
India, with 0.53% of the global tourism market, needs to supplement business travelers with vacationers to compete with China and the Balkan republic of Montenegro, the two other destinations that may expand faster than India in the next decade.
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First Published: Wed, Apr 11 2007. 04 01 PM IST
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