Hero Group enters hospitality sector, to develop 5 star hotel in ...

The largest two wheeler manufacturer in the country, Hero Group, promoted by O P Munjal has announced its foray in hotels and hospitality sector.

The business group has won a bid of a 5 star Deluxe Hotel on the Club road in Gurgaon. While Hero Group shall be developing the property, it will be managed by international repute O&M hotel companies, the typical target brand for this could be Four season, Conrad, JW Marriot or other signature brands. This is one of the decisive steps which may change the outlook of the group for ever.

Commenting on the venture into hospitality sector, Pankaj Munjal, Managing Director, Hero Motors, said, ?Looking at the huge growth potential and dynamic social changes, we see a room for a high end hotel in this part of the NCR. Here on one hand with economic growth regression we foresee the need and on the supply side a lot is coming up too. We will do our best getting the right ingredients as we have no leaning on our own to differentiate the property?.

This is just a beginning for us, the sector is growing and going forward we would like to grow as the sector achieves new heights. The average growth rate in tourism in India over the past five years has been over nine per cent. The number of foreign tourists that arrived in India last year was 5.6 million. As such going forward we see the opportunity for growth in tourism is extremely high in India and this is the right time for us to venture into the sector?.

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Source: http://newstkr.com/2011/09/hero-group-enters-hospitality-sector-to-develop-5-star-hotel-in-gurgaon/

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