Indian Economy News

Mangalam group to invest Rs. 1,000 crore (US$ 120 million) to expand hospitality portfolio

A Rajasthan-based real estate and infrastructure firm, Manglam Group, has announced plans to invest Rs. 1,000 crores (US$ 120 million) in a major expansion in its hotel offerings, which would see it diversifying into new businesses for the organization. The move would see the firm invest in new hotel development initiatives and improve its services for local and global tourists. A statement from a senior official of the firm has revealed that the move forms a bigger plan by the firm to tap into the rising demand for tourism in India. The firm would focus on developing luxury hotels that would provide superior services due to the growing demand for quality options in tourist hotspots.
The move comes as India's hospitality market is growing with substantial demand, fueled by an influx of Indian travelers, business activities, and international tourist arrivals reaching pre-COVID levels. The entry of Manglam Group into the hotel and resorts business is expected to generate jobs and stimulate economic activities, especially in Rajasthan, which relies significantly on the hospitality business. In fact, Manglam Group has already drawn up plans to launch ventures in the coming years with an emphasis on improving customer experiences through the latest facilities and locations. This investment clearly reflects Manglam Group's optimism in India's hotel business market and its commitment to contributing to this market's growth. 

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