Hotel chain Hilton is expanding its committment to the Indian market and plans to invest as much as $143 millionÂ over the next seven yearsÂ through a joint venture with DLF Properties.
The joint venture, DLF-Hilton Hotels, plans to develop 75 mid-range hotels in different Indian cities including Bangalore, Hyderabad, Delhi, Bhubaneswar, Kolkata, Goa and Mysore, reports the Wall Street Journal (subscription required).
Hilton already has a presence in India in the premium segment through the Trident Hilton hotels project with East Indian Hotels.
“India is huge, and the opportunity is not only in the upscale segment,” said Ian Carter, executive vice president of Hilton’s international operations. “India is one of the 10 markets that we will focus on. Over the next seven to 10 years, our presence in India will grow tenfold.”
In itsÂ 12 largest cities, India has 27,000 premium rooms with a high occupancy rate of 75%.