Indian Hotelier Plans $4B Pipeline

NEW DELHI-In a $4-billion deal representing more than 10% of the country’s existing hotel inventory, Royal Indian Raj International Corp. has plans to build at least 12,000 budget-oriented rooms nationally. The contract with Choice Hotels India calls for construction to begin during the next 12 months on motels that will fly such flags as Clarion, Comfort Inn, Quality and Sleep Inn.

“There is a huge demand in the hotel and hospitality sector in the Indian Nation primarily in the under-represented three-, four- and five-star category,” Riric CEO Manoj Benjamin explains in a release. “This strategic partnership was forged to address these issues.”

The venture will further establish Riric’s position in the Indian hotel arena, he adds, part of a multi-faceted investment into the country that began in 1999. Featuring offices in Vancouver, England; London; and Bangalore, India, Riric is creating new transit and sewage infrastructure, and is also active in modernizing India’s commercial, housing and technology sectors to meet the demands being placed on the rapidly growing economy. The deal with Choice Hotels will put Riric’s direct investment into the country to date at more than $6 billion.