From Deoghar to Udupi: Family offices bet Rs 2,000 crore on hotels in pilgrimage towns
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Wealthy Indian families invested Rs 2,000 crore in hotels across pilgrimage towns like Deoghar and Udupi over the past 18 months.
- ✓These investors said, "Faith is India's most reliable demand generator." Big brands like IHCL and ITC are now managing these properties, replacing old dharamshalas with modern, professional hotel stays.
Story at a Glance
- Category
- BUSINESS
- Reported By
- The Economic Times
- Reading Speed
- 4 Minute(s)
- Market Focus
- India Economy
Synopsis
Nearly Rs 2,000 crore has been committed across key religious destinations over the past 12-18 months, according to Noesis Hotel Advisors, as some of India's wealthiest business families turn their conviction in these destinations into a hospitality investment play.
Mumbai: Family offices are investing in hospitality assets around major pilgrimage centres across India, from Deoghar and Mathura to Saurashtra and Udupi, opening a new frontier for the domestic hotel industry. From a Mumbai family office acquiring a nearly completed upscale hotel in Udupi to RR Kabel's investment in Salasar Balaji, family capital is flowing into branded hotels around India's biggest pilgrimage centres.
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The Economic Times
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