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The hospitality chain is betting big on tier II and III markets where the metrics, like occupancy and room rates, are tracking strong. The company is also tapping into the growing market of spiritual tourism, with destinations like Ayodhya in focus.
Many mid-size and upscale hotel companies are firming up investments and capacity expansion plans to the tune of Rs 3,500 crore in key holy towns in the next two years, according to data collated by Noesis Capital Advisors, a hotel investing and consulting firm. This translates into over 5,000 new rooms and about 25,000 jobs.