UP: Massive Investment In Hospitality Sector Transforms Ayodhya Ahead Of Ram Temple Event

UP: Massive Investment In Hospitality Sector Transforms Ayodhya Ahead Of Ram Temple Event

Investors are seizing the immense tourism potential of the city, leading to the establishment of approximately 50 major hotel construction projects

Rahul MUpdated: Sunday, January 14, 2024, 10:02 PM IST
article-image
File

Lucknow: With the Consecration ceremony scheduled for January 22 drawing near, Ayodhya is experiencing a significant surge in investment in its hospitality sector. Investors are seizing the immense tourism potential of the city, leading to the establishment of approximately 50 major hotel construction projects.

Renowned hotel brands, including Taj, Marriott, Ginger, Oberoi, Trident, and Radisson, are making Ayodhya a focal point for their expansion plans. The city is not only witnessing the development of large-scale hotels but also attracting investments from small hotels, resorts, and homestays, solidifying its position as a burgeoning hotspot in the hotel industry.

Infrastructure enhancements

Infrastructure enhancements, such as well-maintained highways, captivating wall paintings depicting the life of Lord Ram, enchanting facade lighting, and a grand entrance adorned with Victorian lamps, are adding to the overall appeal of Ayodhya.

During the Uttar Pradesh Global Investors Summit (UPGIS), Ayodhya secured approximately 102 intent agreements, signaling investments worth around 18,000 crores for tourism in the region. Post the summit, entrepreneurs continue to present proposals for further investments in Ayodhya's tourism sector.

Gaurav Dayal, Divisional Commissioner of Ayodhya, revealed that 126 tourism-related projects are poised for implementation through the Government of Uttar Pradesh's Single Window Clearance System (GBC). Of these, 46 have received Memoranda of Understanding (MOUs), while 80 projects are non-MOU related. The collective cost of these projects is estimated to be around Rs 4,000 crores, with MOU and non-MOU projects each contributing approximately Rs 2,000 crores.

Renowned hotels invest in large-scale projects

Approximately 50 renowned hotels, including Taj, Marriott, Ginger, Oberoi, Trident, and Radisson, have invested in large-scale projects in Ayodhya, with construction already underway. Plans are also underway to convert the iconic 'Raja Ki Building' into a heritage hotel, with a major hotel chain expressing keen interest in the venture.

In tandem with these developments, four major projects are set to inject approximately Rs 420 crores into Ayodhya's hospitality sector. Panche Dreamworld LLP leads the way with the 'O Rama Hotels and Resorts' project, followed by The Innovators Digital Ads Pvt. Ltd.'s 'Solitaire Ayodhya 5 Star' hotel, Evergreen Infrastructure Pvt. Ltd.'s 'Shri Ramya Hotel,' and Samruddhi Swastik Trading and Investment Ltd.'s 'Vishranti Grah.'

In total, Ayodhya is witnessing a paradigm shift with 139 new projects, attracting an investment of around Rs 2700 crores. Of these, 87 projects, with an investment of approximately Rs 1650 crores, have already received certification. Additionally, renewal applications for 25 projects, valued at Rs 920 crores, have been submitted, with renewal certificates issued for 21 projects amounting to Rs 806 crores. Overall, certificates have been issued for approximately 108 projects, representing an investment of around Rs 2500 crores.

As Ayodhya evolves into a vibrant hospitality hub, these developments promise not only to elevate the city's profile but also to provide a comfortable and enriching experience for the multitude of devotees and tourists expected to visit Ayodhya in the years to come.

RECENT STORIES

Mumbai News: Fire Breaks Out At Commercial Property In Sakinaka, MFB Swiftly Contains Blaze; No...

Mumbai News: Fire Breaks Out At Commercial Property In Sakinaka, MFB Swiftly Contains Blaze; No...

Disturbing VIDEO: School Bus Runs Over 2 Kids In Maharashtra's Vasai; Sustain Serious Injuries

Disturbing VIDEO: School Bus Runs Over 2 Kids In Maharashtra's Vasai; Sustain Serious Injuries

Mumbai News: Reay Road To Get New Cable-Stayed Bridge Likely By May; Project To Cost ₹145 Cr

Mumbai News: Reay Road To Get New Cable-Stayed Bridge Likely By May; Project To Cost ₹145 Cr

Viral VIDEO: Shiv Sena MLA Sanjay Gaikwad Thrashes Young Man Using Police Lathi During Shiv Jayanti...

Viral VIDEO: Shiv Sena MLA Sanjay Gaikwad Thrashes Young Man Using Police Lathi During Shiv Jayanti...

CIDCO VCMD Vijay Singhal Visits Navi Mumbai International Airport Project Site; Directs Officials To...

CIDCO VCMD Vijay Singhal Visits Navi Mumbai International Airport Project Site; Directs Officials To...