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Project Profile on

Apartment Hotel

Mott MacDonald
iNDEXTb

Sector

Tourism

Sub - sector

Hotel

Profile No.

TR - 04

Project Title

Apartment Hotel at Ahmedabad, Vadodara, Champaner (Pavagadh),


Mandvi (Kutch), Pingleshwar (Kutch) and Surat

Project Description
Tourist Accommodation is an essential infrastructure
Pingleshwar(Kutch)

required in cities and towns where large number of

Mandvi (Kutch)

tourists visit and stay overnight. Apartment hotels

Champaner

is a new concept for those executives who are


staying long and wish to stay in a homely
atmosphere. Each apartment block consists of a
sitting room, a bedroom and a small pantry room
with attached toilets and bathrooms. The block is
furnished with refrigerator, television, microwave oven and an AC. Single or two persons occupy one
block. Apartment hotels are proposed in destination, which experience very high business class
tourists.

Market & Growth Drivers


Market
The target market for the Apartment hotels is business tourists, both domestic & foreign. The major
subsections are foreigners, NRG/NRI, upper class domestic tourists and business tourist looking for a
homely atmosphere for longer stays.
Tourist inflow into Gujarat in 2005

Bhoyani,

Dehgam,

Dholera,

Dholka,

Jetalpur,

Excellent

Air

Bhadiad,

Rail

81930

Excellent

Connecti

86.39*

vity

Ahmedabad,
+

Road

Places of

or Gandhinagar

Interest/Circuits

Foreign Tourist

(Nos)

Domestic Tourist

(lakh)

Place
Ahmedabad

Excellent

Lothal, Nal Sarovar,

TR-04

Project Profile on
Apartment Hotel

Mott MacDonald
iNDEXTb

Connecti

vity

Air

Rail

Road

Places of

Interest/Circuits

Foreign Tourist

(Nos)

Domestic Tourist

(lakh)

Place

Surkhej,
VauthaAdalaj,
Dabhoda,
Gandhinagar
Vadodara

Ajava,

Amba

Dungar,

Excellent

Excellent

Excellent

Excellent

Excellent

Excellent

Excellent

Excellent

Inadequate

Excellent

Excellent

Good

Bodeli,

Chandod-Karnali,
48.24*

15809

Chhota

Udaipur,

Dabhoi, Kayavrohan,
Koyali,

Nareshwar,

Sankhedi, Vadodara,
Vaghodia.
Champaner(Pavagadh)

Champaner, Dahod,
Devgadh
21.36*

198

baria,

Godhra, Halol, Kalol,


Limkheda,
Pavagadh.

Surat

4.65

6040

Bardoli,

Dandi,

Dumas,

Hajira,

Magdalla,

Sachin,

Surat, Udhana,Unai,
Utran.
Mandvi / Pingleshwar

Anjar, Bhadreshwar,

(Kutch)

Bhuj,
0.16

1218

Gandhidham,

Hajipur,
Madh,
Sarovar,

Matano
Narayan,
Kandla,

Mandvi, Mundra.
* includes day time tourist of religious places + includes nearby tourist destinations, Source: GITCO
Growth Drivers

Increase in number of foreigners visiting India due to the Brand India which offers everything
that a foreigner wants viz Heritage, Adventure, Culture, Wild Life, Pilgrimage, etc. As per

TR-04

Project Profile on
Apartment Hotel

Mott MacDonald
iNDEXTb

World Travel and Tourism Council (WTTC), the number of foreign tourists visiting India has
grown from 3.46 million in 2004 to 3.92 million in 2005.

Government of India (GOI) estimates the global population of Non Resident Indians (NRIs) at
around 20-25 million. This sector of population regularly visits India. A major chunk of this
population is the NRI of Gujarati origin popularly known as NRG. Off late there is a
substantial increase in NRIs/NRGs visiting India. The main reason being the strong bonding
to the native land and culture.

According to the Department of Tourism (DOT - GOI), there are more then 7.2 Million Indians
traveling abroad every year. There is a substantial increase in these numbers every year and
is estimated to be growing at more than 15 %.

Off late Indian business is expanding both in terms of turnover and boundaries. With the high
growth in the Indian economy there is an exponential increase in the number of business
tourists in India.

According to DOT GOI, the total population of Domestic Tourism in the year 2004 was 367
million. There was an increase of 19 % over the previous year. It is expected that domestic
tourism will grow robustly in the future owing to the rising income levels and economic growth.

The tourist growth rate in Gujarat is around 40 %.

Why Gujarat?
Business Tourism

Most Industrialized state in the country


with high presence of Indian and
Global companies.
18 new SEZs under implementation
along with various other industrial parks
Substantial market

Archeological &Heritage
Tourism

State having a wide variety of Historical


Forts, Palaces, Dargahs, Temples, and
places of historical importance in
Indias freedom Struggle. These sites
are still virgin and have a huge
potential for development.
World heritage sites like Lothal and
Dholavera, Champaner and the
Heritage walk

Cultural Tourism

State has a unique Art &Handicraft like


Bhandani, Kutchhi Work, bamboo Craft
and Khadi,
Unique festivals and fairs like Navratri,
Makarsankranti, Sharad Poornima,
Mahashivaratri and Tarnetar Festival

TR-04

Religious Tourism

Gujarat- Home to multitude


devotional centres and temples
with Famous Regious Centres like
Dwarka,
Dakor,
Amabaji,
Palitana,
Somnath,
Shamlaji,
Bahucharaji, Pavagadh, Kabirvad,
Mahudi,
Sun
Temple,
Akshardham,
Swaminarayan
temple, Jain temples, Hindu
Temples and Sudama Mandir

Fun Tourism

Availability of Beaches, diverse


landscapes from forests to deserts,
hills to plain land, Modern Tourism
Sites like Drive-in, Science City,
Water parks, Amusement parks,
Theme based parks, and others like
Parks, Zoos, Lakes, Museums,
Libraries, Shopping malls and
multiplexes

Wildlife Tourism

Gujarat

Proactive Government &


aggressive Marketing
Untapped
Tourism
opportunity
Strategic Location
Unique
blend
of
pilgrimage,
Adventure,
Hill
Station,
Beaches,
Heritage,
Desert
etc
available in the state

Others

Highway Tourism
Medical Tourism
Education Tourism

Gujarat is habitat for the world's


rarest as well large number of
Fauna & Flora, Fauna includes
Asiatic Lions, Wild Ass, Black Bucks,
Bears, Monkeys, Nilgai, Paradise
Flycatcher, Chinkaras, Dolphins,
Whale Shark and Migratory Birds
like Flamingoes, Pelican, Storks.
Flora includes species of Khair,
Sadad, Timru, Babul, Salai, Khakro,
Ber, Asundro and Bordi
The state also has National park/
Sanctuaries at Gir National Park,
marine National Park, Vansda
National Park, Nalsarovar Bird
Sanctuary, Kutch Bustard Sanctuary
and
Velawadar
Black
Buck
Sanctuary.

Project Profile on
Apartment Hotel

Mott MacDonald
iNDEXTb

Suggested Capacity & Project Cost


The normal Apartment hotel comes with a total room capacity of 50 rooms. The investment for this
size of the project would be around INR 100 million (US $ 2.2 million). Considering 6 locations, the
total investment in this sector works to around INR 600 million (US $ 13.33 Million).
Project Cost
Particulars

Total,
Rs.
Million

Land & Site Development

22.0

Building

20.0

Machinery / Equipment

40.0

Vehicles

2.0

Office Equipments

2.0

Furniture & Fixtures

6.8

Preliminary & Pre-Operative Exp.

2.5

Provision for Contingencies

4.8

Total Capital Cost of Project

100.1
Say 100

Means of Finance
Particulars

Amount (Rs. Million)

Equity

30

Total Long Term Borrowings

70

Total Means of Finance

100

Major Financial Indicators


The major financial indicators on the basis of 10 year workings are:
Average for Project
Gross Profit margin

75.09%

Net Profit Margin

37.60%

ROI

37.39%

Average DSCR
IRR

TR-04

2.99
22.67%

Project Profile on
Apartment Hotel

Mott MacDonald
iNDEXTb

Project Time Line


The approximate time duration required for the establishment of this type of project is around 12 18
months.

Suggested Location
The suggested locations for the Apartment Hotel are Apartment Hotel at Ahmedabad, Vadodara,
Champaner (Pavagadh), Mandvi (Kutch), Pingleshwar (Kutch) and Surat.

Major Infrastructure Required


Connectivity: Good Rail, Road and Air connectivity to the location is the major infrastructure
requirement for the project.
Land Availability: As the project is in the hospitality sector, Land availability at prime location is the
major factor for the success of the project. It is very difficult to predict the land cost for the project as
location and availability would be very critical components while calculating the land prices.
Utilities Requirement: The major requirements of utilities are power, water and sanitation facilities.

Clearances Required
Water and Power supply
Registration as commercial establishment with the required state/district authority

Agencies to be contacted
Industrial Extension Bureau
Mott MacDonald India
Tourism Corporation of Gujarat Limited

TR-04

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