Panaji : With the luxury travel market showing robust growth in Goa, its no wonder that international hospitality chains are investing heavily to expand their footprint in the tourist state . The Indian Hotels Company Ltd (IHCL) announced that it is setting up a new resort in Anjuna, North Goa, while its competitor Marriott International has opened up a resort at Colva, South Goa, both in June. With an estimated investment of Rs 421 crore, the Oberoi Group is also keen to grab a foothold in Goa’s hospitality sector by 2027.
Last Dec, the luxury segment recorded occupancy upwards of 90% with the average daily rates (ADRs) shooting up significantly even as the rest of Goa’s tourism sector reported muted performance. The ADR is one of the three key hotel performance indicators along with occupancy and the revenue per available room (RevPAR). “The region overall, has seen an increasing trend of destination weddings and premium leisure travel,” said Ranju Alex, the area vice president, South Asia, Marriott International.
Meanwhile, the IHCL has partnered with Bharat Realty Venture Pvt Ltd to build a 170-key resort close to the Anjuna beach. The new resort is coming up on land that has been taken on a long-term lease from the Goa Tourism Development Corporation. Once operational, the IHCL will have 16 hotels in Goa.
The IHCL has not given a timeline for the inauguration of the resort at Anjuna. “This expansion underscores the IHCL’s commitment to enriching Goa’s hospi.