MoT releases year-end review on hotel and infrastructure developments in 2009

According to a PIB release, the Ministry of Tourism (MoT) has released year-end review on major initiatives and achievements in 2009.

Hotel Infrastructure:
The requirement of hotel accommodation in India is estimated at 2, 40,000 rooms against availability of around 90,000 rooms. It is estimated that there will be requirement of additional 30,000 hotel rooms in Delhi. MoT is therefore actively involved in monitoring the creation of additional accommodation for the Games.

The following initiatives have been taken for augmentation of accommodation infrastructure:
The Reserve Bank of India (RBI) has de-linked credit for hotel projects from commercial real estate, thereby enabling hotel projects to avail credit at relaxed norms and reduced interest rates. In addition, the External Commercial Borrowing (ECB) norms have been relaxed by Ministry of Finance to solve the problem of liquidity being faced by the hotel industry due to economic slow down.

The following initiatives have been taken by MoT to use this opportunity and showcase India as a unique and hospitable tourism destination: