There are no two ways about the fact that the global economic scenario has hit the real estate sector dearly. Even the Indian economy that is touted as one of the most developing economies along with the Chinese economy had to naturally bear the brunt of the economic showdown. Cities like Hyderabad that witnessed almost overnight and rapid development owing to the growing IT sector are amongst the badly hit. The commercial properties especially the hotels in Hyderabad have also seen falls in their occupancy. Though the occupancy of the business hotels in Hyderabad is still better as compared to the leisure and luxury hotels, it is not as good as it used to be. However, the good news is that the bigwigs of the hospitality sector are undeterred and the hotels rooms in the ITC hotels in Hyderabad are expected to rise by a whopping 5600 rooms in addition to the existing 2000 rooms. This is good news not only for the city but also for the country as the rising hotel rooms and the rise of the budget hotels in Hyderabad along with the business and the luxury properties is only indicative of the fact that the Indian economy would get back on track and business would flow in and boom never as before.
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There are no two ways about the fact that the global economic scenario has hit the real estate sector dearly. Even the Indian economy that is touted as one of the most developing economies along with the Chinese economy had to naturally bear the brunt of the economic showdown. Cities like Hyderabad that witnessed almost overnight and rapid development owing to the growing IT sector are amongst the badly hit. The commercial properties especially the hotels in Hyderabad have also seen falls in their occupancy. Though the occupancy of the business hotels in Hyderabad is still better as compared to the leisure and luxury hotels, it is not as good as it used to be. However, the good news is that the bigwigs of the hospitality sector are undeterred and the hotels rooms in the ITC hotels in Hyderabad are expected to rise by a whopping 5600 rooms in addition to the existing 2000 rooms. This is good news not only for the city but also for the country as the rising hotel rooms and the rise of the budget hotels in Hyderabad along with the business and the luxury properties is only indicative of the fact that the Indian economy would get back on track and business would flow in and boom never as before.
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