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Manglam Group, a prominent real estate developer in Rajasthan, has unveiled an ambitious INR 1,000 crore investment strategy to enter the INR 82,000 crore Indian hospitality sector over the next five years. Leveraging its extensive experience with over 70 completed real estate projects, the group is focusing on greenfield developments in high-growth segments such as destination weddings, leisure tourism, and MICE. Their inaugural hospitality venture, the Westin Jaipur Resort, is nearing completion, with a second hotel already underway in Jagatpura, Jaipur.
Manglam Group, one of Rajasthan's most renowned real estate developers, has announced its entry into the INR 82,000 crore Indian hospitality sector, supported by an investment plan totalling INR 1,000 crore to be deployed over the forthcoming five years. This strategic move seeks to leverage the group's established expertise in real estate development, with an emphasis on creating premium hospitality assets that will reshape Rajasthan's tourism industry by offering world-class luxury experiences. Advertisement
Having successfully completed over 70 real estate projects, Manglam Group is now concentrating its efforts on greenfield hospitality ventures. Rather than acquiring existing assets or brownfield properties, the group is focusing on developing new projects from the ground up. Their expansion strategy is directed towards high-growth tourism segments, notably destination weddings, leisure travel, and the MICE (Meetings, Incentives, Conferences, and Exhibitions) sector.
The group's hospitality journey started with Westin Jaipur Resort-a luxury property featuring 150 rooms that is set to open shortly along the Delhi-Jaipur Highway. The group has already started work on its second hospitality development in Jaipur comprising approximately 200 rooms. This upcoming hotel will form part of a mixed-use project in Jagatpura and will be operated in partnership with an international hotel chain, marking Manglam Group's debut collaboration with a global hospitality brand.
Acknowledging the rising demand for premium wedding venues, Manglam Group's hospitality ventures will also include luxury resorts specifically designed for grand celebrations. Rajasthan, recognised as India's foremost wedding destination, boasts an industry estimated at USD 130 billion, which is expanding at an annual rate of 13-15%.
Ms Amrita Gupta, Director of Manglam Group, remarked that their INR 1,000 crore investment in hospitality was a strategic initiative intended to reshape Rajasthan's tourism sector. She indicated that demand for world-class luxury experiences had reached unprecedented levels and highlighted Manglam Group's dedication to delivering exceptional hospitality assets designed to meet the evolving needs of the market. Ms Gupta stressed that this expansion was not limited to a single project but represented a broader vision aimed at making a lasting impact on Rajasthan's tourism ecosystem.
In line with the growing focus on sustainable development within India's hospitality sector, Manglam Group is adopting eco-friendly practices across its upcoming projects. These initiatives include solar passive zoning, renewable energy solutions, sustainable architecture and advanced water conservation techniques.
While Jaipur remains the focal point of Manglam Group's planned 1,000-room hospitality expansion, the company is also actively exploring opportunities in other parts of Rajasthan and in Goa. This expansion strategy is intended to establish Manglam Group as a major player within India's high-end hospitality sector.
Manglam Group was established in 2008 by Mr Nand Kishore Gupta. As of March 2023, it has delivered 22,990 units spanning townships and residential projects, totalling 421.98 lakh square feet. With 69 completed projects and 24 ongoing developments, Manglam Group's track record reflects its commitment to timely delivery and quality. Its diversified portfolio extends beyond real estate into ventures such as Manglam Resort, Saville Hospital, and the Fun Kingdom amusement park. With its foray into the Indian hospitality sector, Manglam Group is well-positioned to become a key player in India's premium hospitality industry.
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