Mumbai, 30 August DLF Hotels, an arm of the real estate firm DLF Ltd, said today it had reached an agreement with Four Seasons Hotels, as the Indian firm aims to expand operations significantly.
The 230-room luxury hotel near New Delhi will open by end-2010, it said in a statement.
DLF Hotels also has a venture with Hilton Hotels for up to 75 business hotels and serviced apartments, and aims to own 25,000-30,000 rooms over the next 7-10 years, it said.
A buoyant economy and a woefully inadequate supply of hotel rooms are drawing global chains to India, where pricey real estate is forcing them to partner local developers.
Construction firm Gammon India Ltd also said it had tied up with Wyndham Hotel Group International, a unit of Wyndham Worldwide Corp, for a budget chain.
Gammon would own and manage the 35-40 properties it planned to develop over three years, and use Wyndham brand names, it said.
India has about 100,000 hotel rooms and needs an additional 100,000-125,000 rooms over the next five years, analysts say.
Other global chains stepping up their presence in India include Marriott International Inc, InterContinental Hotels, Shangri-La and Accor.
Accor has deals with Hindustan Construction Co, GMR Infrastructure Ltd and developer Nirmal Lifestyles.
Local hotel operators include leader Indian Hotels Co Ltd, the owner of the Taj brand, EIH Ltd, which operates the Oberoi brand, and Hotel Leela Venture Ltd. REUTERS