January 13th, 2011
Daily Markets: Zachs Investment Research reports that Wyndham Worldwide Corporation (WYN), through its subsidiary Wyndham Hotel Group, is finally entering the Indian market. The hospitality company signed a franchise agreement with Tirupati Buildings & Offices Pvt. Ltd to open its first hotel in India. Follow up:
Follow up:The 394 room hotel will be located in New Delhi, the Indian capital, and is expected to open in April 2011. The hotel will include facilities like restaurants, nightclub, swimming pool, spa, fitness and business center as well as 14,000 square feet of space for meeting and dinner purposes. Moreover, to attract a higher number of guests, a shopping mall is also planned near the hotel.
The hotel is strategically located as it is near the international airport, enabling easy visits by business and leisure travelers from all over the world.
The Parsippany, New Jersey-based company is all set to accelerate its growth in the Asia Pacific region in 2011, as demand for hotels is greater in the international market than in the U.S. Other than the Indian market, Wyndham expects China to offer significant possibilities for growth, as 6 hotels are slated to open and 7 are under construction. Read more at Daily Markets.....