Major Hotel Brands Invest In Ayodhya's Growing Hospitality

EE News Desk Jan 17, 2024

Media reports suggest that investors have seized substantial opportunities in Ayodhya's hospitality sector, fuelled by the forthcoming Ram Temple, which promises significant potential for religious tourism. Major hotel brands are making their presence felt in Ayodhya, with approximately 50 large-scale hotel projects currently in progress. Numerous small hotels, resorts, and homestays are contributing to Ayodhya's emergence as a burgeoning hub in the hotel industry.

Ayodhya's appeal is further enhanced by well-developed highways, wall paintings portraying Lord Ram's life, captivating facade lighting, and a grand entrance adorned with Victorian lamps. The Global Investment Summit saw the signing of 102 intent agreements, totaling around Rs 18,000 crore for tourism in Ayodhya. Post the summit, additional proposals have been submitted, demonstrating sustained interest in Ayodhya's tourism sector.

The Divisional Commissioner of Ayodhya, Gaurav Dayal, revealed that there are currently 126 tourism-related projects ready for implementation, with a total investment of around Rs 4,000 crore. Notably, 46 projects have signed Memorandums of Understanding (MOUs), while 80 are non-MOU related. The construction of approximately 50 renowned hotels, including Taj, Marriott, Ginger, Oberoi, Trident, and Radisson, is underway.

As part of this strategic development, AweSpace Ventures plans to establish ultra-luxurious villas in Ayodhya, aligning with the region's growing global prominence. Simultaneously, IHCL (Indian Hotels Company Limited) has announced the introduction of Taj-branded resorts, emphasising sustainable luxury. "There is a paradigm shift in the world of real estate and it is poised to reshape the landscape of luxury real estate, pointed out Vijay Naraayanan, Co-founder & CEO, AweSpace Ventures.

In the pipeline is the transformation of 'Raja Ki Building' into a heritage hotel, with a major hotel chain expressing interest in investing. Ayodhya anticipates an investment of approximately Rs 420 crore through four large-scale hotel projects, including Panche Dreamworld LLP's 'O Rama Hotels and Resorts' (Rs 140 crore), Innovators Digital Ads' Solitaire Ayodhya 5 Star hotel (Rs 100 crore), Evergreen Infrastructure's Shri Ramya Hotel (Rs 90 crore), and Samruddhi Swastik Trading and Investment's 'Vishranti Grah' (Rs 86 crore). The collective efforts aim to accommodate the growing influx of devotees and tourists visiting Ayodhya.

Solitaire Ayodhya, a 5-star hotel, will be constructed by Innovators Digital Ads with an investment of Rs 100 crore. Evergreen Infrastructure is set to establish Shri Ramya Hotel with a planned investment of Rs 90 crore, while Samruddhi Swastik Trading and Investment will embark on the development of 'Vishranti Grah' with an investment of Rs 86 crore, as per official statements.