Published on: 2024-12-24
December, 2024 | Central Indian cities of Ujjain, Indore, Omkareshwar, Maheshwar and Dhar in the state of Madhya Pradesh are emerging as the new hotspots ! Top league hotel brands like Marriott Hotels, Taj Group, Radission, Ramada by Wyndham, Sayaji Hotels Ltd, Ananta Hotels &Resorts , etc. are entering or increasing their presence in these cities. All this is driven by some strong reasons and catalysts that are attracting big groups to invest in the tourism sector of this region. here are the keyt factors converging to create a perfect storm of opportunities for the hospitality industry in these places:
The Mahakal Jyotirlinga in Ujjain and Omkareshwar Jyotirlinga are attracting millions of pilgrims and tourists. In 2023 alone, over 2.5 million tourists visited Ujjain, a growth of 25% from 2022. Inaugurated in 2022, The Mahakal Lok Corridor — a plaza area spread over 2.5 hectares for devotees visiting the Mahakaleshwar temple — gets a daily footfall of 1.5-2 lakh. During festivals and days of religious significance, for instance every Monday of the Shravan month, this number goes up to 4.5-5 lakh.
Further, at Omkareshwar, The Adi Shankaracharya Statue is an ambitious project initiated by the Madhya Pradesh State Government. This statue is part of a broader effort to enhance the religious and cultural significance of Omkareshwar and make it a major pilgrimage destination. The statue of Adi Shankaracharya, the revered 8th-century philosopher and spiritual leader who is credited with consolidating the doctrine of Advaita Vedanta and reviving Hinduism, is planned to be a towering figure. The statue is expected to be around 108 feet tall (about 33 meters), making it an imposing and inspiring sight for visitors. The installation of the statue is expected to attract more pilgrims, tourists, and spiritual seekers to Omkareshwar. As part of the Omkareshwar Corridor Project, the statue is designed to become a key part of the pilgrimage route and a symbol of spiritual enrichment.
Indore region is experiencing rapid economic growth, driven by government initiatives and infrastructure development under Smart City Mission, Super Corridor, IT Park, Metro Rail Network, Swachh Baharat Initiative, MP MSME Policy, EcoNomic Corridor, PM MITRA Park and other programs. Top tier education institutes like IIT, IIM and others are present here to offer skilled workforce for these business activities.
The State Government (Though Madhya Pradesh Tourism Development Corporation) is offering attractive capital subsidies for tourism projects going upto 50% of the capital cost of such Project, in addition to providing land at concessional prices, making it an ideal time for hotel brands to invest. From standard to deluxe hotels, Mini-resorts to eco-tourism centres, from wellness resort to convention centre, the Madhya Pradesh government is leaving no stone unturned to attract investment in tourism sector. The government has also announced policy for concessional land allotment for large tourism projects in the state.
Indore, the largest city in Madhya Pradesh, has seen significant improvements in its connectivity through both rail and air travel, making it an increasingly important hub for business, tourism, and logistics. Indore's rail network has been upgraded to accommodate growing demand and to enhance connectivity with major cities across India. In recent years, projects like the Indore-Ratlam broad gauge line and other infrastructure improvements have boosted connectivity, ensuring faster travel times and better access to the city from neighbouring regions.
Indore is also enhancing its air connectivity, helping the city become a major business and tourism destination. Devi Ahilya Bai Holkar Airport: Indore’s airport has seen significant upgrades to cater to increasing passenger volumes. The airport now handles both domestic and international flights, with connections to cities like Mumbai, Delhi, Bangalore, Dubai, and Singapore. With better rail and air links, Indore has become a more attractive destination for investment, business, and industry. Enhanced transportation options have made it easier for tourists to visit Indore and nearby attractions, such as Dhar, Mandav, and Ujjain, boosting the local tourism industry.
Dhar area including Mandav is known for its rich archaeological heritage, including the discovery of dinosaur fossils, dinosaur nests, shark teeth, tree fossils, and marine mollusks. Dhar, as part of Madhya Pradesh, is one of the notable areas in India where dinosaur fossils have been found. Fossils from the Mesozoic Era (when dinosaurs roamed the Earth) have been uncovered in various parts of the state, particularly from the Upper Cretaceous period (about 100 to 65 million years ago). Several dinosaur eggs, bones, and footprints have been found in regions of Madhya Pradesh, including the Dhar District. These discoveries were made in the Narmada Valley and other nearby areas, where scientists believe that dinosaurs once lived. Footprints and traces left by dinosaurs have also been found in some parts of Madhya Pradesh, including areas near Dhar. These tracks help paleontologists reconstruct the behavior and movement of these ancient creatures.
Simhastha Kumbh was held last time in 2016, which received around 7.5 crore visitors from across the world, according to the government. The upcoming Mahakumbh in 2028 is expected to draw millions of pilgrims and tourists, creating a massive opportunity for the hospitality industry. The Madhya Pradesh government is expecting approximately 15 crore visitors from across the world during a month-long Simhastha Kumbh which will be held in the religious city Ujjain in 2028. To accommodate the vast number of devotees and tourists attending Simhastha, new construction projects are underway along with upgrades to existing facilities. This itself indicates the massive tourism opportunities that this event is going to create.
As the demand for quality accommodations and services grows, we can expect to see more international hotel chains, boutique hotels, and innovative hospitality concepts emerge in these cities. Exciting times ahead for the hospitality industry in Ujjain-Indore-Omkareshwar-Maheshwar-Dhar circuit !
At EffoLogic, we provide end to end financial consultancy for setting up Hotel Project, Brand Tie-Up, Franchisee availing Project Finance, Applying for Government Subsidies and related regulatory compliances. We have worked with many Hotel projects and assisted smooth fund raising for the tourism industry in Madhya Pradesh.
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