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Updated January 14th, 2024 at 20:53 IST

Ayodhya attracts interest from major hospitality chains

Approximately, 50 major hotel construction projects are currently underway in Ayodhya

Business Desk
ayodhya
As many as 126 investments worth over Rs 4,000 crore are lined up, official sources said. | Image:PTI
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Business Growth: Ayodhya is decked up and all set to host visitors across the world for grand consecration ceremony on January 22. 

As preparations are going on, the investor community is enthused with the business opportunities lying in Ayodhya, as the place is becoming one of the most sought-after tourist destinations in India. Investors have signed various agreements for big investments in the hospitality sector here, as the upcoming Ram Temple provides immense potential for religious tourism.

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Famous hotel brands are establishing their branches in Ayodhya, and approximately 50 major hotel construction projects are currently underway in the city, official sources said.

With several small hotels, resorts, and homestays investing in the region, Ayodhya is emerging as a new hotspot in the hotel industry.

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In addition, good highways and roads, wall paintings depicting the life of Lord Ram, facade lighting, and a grand entrance adorned with Victorian lamps add to the attraction of Ayodhya.

According to Divisional Commissioner of Ayodhya, Gaurav Dayal, said 102 intent agreements worth about Rs 18,000 crore were signed for tourism in Ayodhya during the Global Investment Summit (GIS).

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Even after the GIS, many entrepreneurs have submitted their proposals to the government and district administration for the investment in the tourism sector in Ayodhya, he added.

Currently, there are 126 ready-to-be-implemented projects related to tourism in Ayodhya.

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Of the 126 projects, 46 have signed MOUs, while 80 are non-MOU related. The total cost of all these 126 projects is around Rs 4,000 crore.

Dayal said that around 50 renowned hotels have invested in Ayodhya for large-scale projects, and the construction of these buildings are underway. The top brands part of this investment wave are Taj, Marriott, Ginger, Oberoi, Trident, and Radisson. All of them will soon be completed and operational.

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There are plans to also develop the 'Raja Ki Building' as a heritage hotel, with a major hotel chain expressing interest in investing in this project.

Apart from these, a significant number of small and large hotels are likely to commence operations in and around the Ayodhya region. These hotels will ensure the accommodation for a large number of devotees and tourists visiting Ayodhya.

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Ayodhya is set to witness an investment of approximately Rs 420 crore through the four large projects in the hotel industry. The first on the list is Panche Dreamworld LLP, which will establish the 'O Rama Hotels and Resorts' project at a total cost of Rs 140 crore.

Innovators Digital Ads Pvt Ltd will build Solitaire Ayodhya 5 Star hotel for Rs 100 crore, Evergreen Infrastructure will establish Shri Ramya Hotel with an investment of Rs 90 crore and Samruddhi Swastik Trading and Investment will set up the 'Vishranti Grah' at an investment of Rs 86 crore, officials said.

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Published January 14th, 2024 at 20:52 IST

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