Fairmont Rafles Hotels International (FRHI) plans to open 5-8 hotels in India in the next five years. FRHI would open the new hotels through management contracts.
According to estimates by the World Travel and Tourism Council, the travel and tourism industry in India is set to grow to $431 billion by 2020.
Vice president of global sales at FRHI, Mark Sergot , told FE said, ?we are very bullish on the Indian market as the appetite of consumers here is huge. We are already seeing more than 60% occupancy in the first eight months itself since we opened our Swissotel brand in Kolkata. This figure is very healthy for a hotel chain in its first few months.?