Elaborating on the investment that the company is looking at for its expansion plans, he informed, The total investment within the Singapore market has been US$ 250 million. For the India expansion, we are looking at investing up to US$ 100 million, as long as we can procure the right land/building in the right area.
On the growth trend in the hospitality business, he opined, Since the hotels being opened by the group in the next couple of years will be in Singapore and Santiago, we have great expectations from the outbound tourism market. Fears of backlash due to the global economic downturn notwithstanding, the Indian outbound travel industry has defied odds to earn the distinction of being one of the world's 'fastest-growing', and we expect this trend to continue in the coming year. Southeast Asian countries such as Thailand, Singapore, Malaysia etc. (short-haul destinations) are emerging as the leading outbound destinations among Indian consumers. Within the outbound market, the luxury or high-end segment is expected to grow consistently due to the increasing number of high net worth individuals (HNWIs) in the country, which is what Garcha Hotels aims to provide them.