Project

Consultant:

Government of Goa
Goa International Convention
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content

04 Introduction
06 The site

10 Goa overview
16 Goa tourism

20 26
Hospitality industry Convention industry
overview overview

32 36
Need Gap Analysis The Opportunity

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Goa International Convention
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 1 Introduction
In order to leverage the vast potential of the state of Goa as a
destination for MICE led tourism, the Government of Goa (GoG)
intends to develop an International Convention Centre along with a
500-key Convention Hotel at a prime location at Dona Paula in the
vicinity of the state capital at Panaji.

The project is intended to be a cohesive destination for

conventions, hospitality and entertainment with a view to being
the best of its kind of facility in India. The project shall comprise a
convention centre, a convention hotel , a multiplex and other
revenue generating assets, including (but lot limited to) malls,
offices and entertainment centres.

Government of Goa intends to develop the project through the

public-private partnership (PPP) model. The land identified for the
Project admeasures around ~25 acres or 98,299 sq metres, and is
located at Dona Paula, Goa.

Towards this goal of developing a project on a PPP model, the GoG

has invited bids from interested bidders to bid for the project
through an international competitive bidding process. This Project
Information Memorandum (PIM) has been prepared by Knight
Frank (India) Pvt Ltd, the consultant to GoG for the project, to
provide bidders with basic information for evaluating the project
prior to bidding.

Neither GoG, Knight Frank, nor any person involved in the

preparation of this PIM give any warranty as to its contents nor
accept any contractual, tortuous or other form of liability for any
consequences, loss or damages that may arise as a result of any
person acting upon or using the information in this PIM. This PIM is
confidential to bidders for the project and is not to be the subject
of communication or reproduction wholly or in part.

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2 The site
The Project site is well located at Dona Paula on Dr. E Borges Road, just
off Panaji, with a beautiful view of the sea from higher levels. The site is in
proximity to popular tourist spots of Goa such as Dona Paula square,
Miramar Beach, etc.

The location has several institutions in proximity along with residential

development. The key landmarks of Goa are within easy access, both with
respect to travel time and distance.

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 ODP of Taleigao Planning Area

Planning Area 2028 is approved

and Notified in Gazette
notification reference GPPDA/ODP
of TPA/1802/2019

Convention Centre and Allied

Facilities – Special Commercial
Zone with FAR 300

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AREA TABULATIONS

PLOT Area (Sq. Descripti

No. mt.) on
P4 40000.98 I.T Plot
P5 13412.76 I.T Plot
P6 6953.77 I.T Plot
P7 9127.44 I.T Plot
P12 8501.83 I.T Plot
P13 5816.55 I.T Plot
P14 5976.04 I.T Plot
P15 8509.93 I.T Plot
Total 98299.30

The site is a centrally located large plot, which is

easily accessible within an hour’s drive from most
parts of Goa

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2 Goa overview
Goa is located in the western region of India. The state shares its
border with the Arabian Sea to the west, Maharashtra to the north
and Karnataka to the south and the east. Goa’s administrative
headquarters are located at Panaji (the state capital) and Margao. The
state has two districts: North Goa and South Goa.

The state encompasses an area of 3,702 km2 (1,429 square miles). It

lies between the latitudes 14°53′54″ N and 15°40′00″ N and
longitudes 73°40′33″ E and 74°20′13″ E.

The population density is 394 persons per sq km, which is higher than
the national average, which is 382 persons per sq km. The state has
almost 62.17 per cent of the population living in urban areas.
Goa is a prosperous state with Per capita income at current prices for
the year 2018-19 is INR 5.03 lakh As against India’s INR 1.26 lakh.

Goa has a total population of 1,458,545 as per the 2011 census, which
is spread across two districts, namely:

• South Goa comprises 52.6 per cent of the total population

• North Goa comprises 47.4 per cent of the total population

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The population density is the highest in Magmugao followed by Salcete, which are situated in
the centre of the state and are close to the current airport. In North Goa District, the talukas
of Tiswadi and Bardez have the highest population density, this is due to high tourist activity
in these areas.

The literacy rate of Goa is 88.7 per cent. The literacy rate for males and females is 92.65 per
cent and 84.66 per cent, respectively.
Goa ~ Decadal population growth trend
16,00,000
14,58,545
13,47,668

11,69,793
12,00,000
Population in numbers

10,07,749

7,95,120
8,00,000
5,89,997

4,00,000

-
1960 1971 1981 1991 2001 2011
Year

Goa ~ Sub districts population growth

3,75,000 15%
Population in numbers

12%
3,00,000 11% 11% 12%
10%
9%
Change in %

2,25,000 8% 9%
7%
5%
1,50,000 4% 6%
3%
75,000 2% 3%

- 0%

Population (2001) Population(2011) Change(%)

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Source: Census of India Centre
 Socio-economic classification
• Socio-economic classification (SEC) is the division of a total potential market into
smaller groups based on education and occupation of the Chief Wage Earner (CWE) of
the household.
• SEC A, the most affluent households includes those whose CWE is a businessman or
professional or an executive/manager.
• SEC B, the households in the second rung of affluence, includes those whose CWE is a
school-educated businessman or graduate / post graduate skilled worker.
• SEC C, includes those whose CWE is a graduate / higher secondary white-collar /
white-blouse office worker or blue-collar factory worker.
• SEC D and E includes the lower income group, and here the CWE is a skilled worker.

Goa ~ Socio-economic classification

60,000

51,100

45,000 41,900 42,900

Number of households

34,300

30,000
23,400
18,900

15,000 11,200
8,100

0
Urban SEC A Urban SEC B Urban SEC C Urban SEC D &
households households households E households

North Goa South Goa

Source: Knight Frank Research

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Economic drivers
• Goa is one of the fastest growing states in the country.
• The gross state domestic product (GSDP) of Goa, at current prices, increased at a
compound annual growth rate (CAGR) of 7.6 per cent between during FY 12–17.
• Goa’s net state domestic product (NSDP) was US$8.55 billion in 2016–17.
• Goa's economic growth is driven by the strong performance of secondary and
tertiary sectors.
• Tourism, is the backbone of the economy in the state and presents considerable
employment opportunities. Further, the Contribution of secondary sector in the State
Domestic Product is higher than the national average due to the presence of large
scale industries especially in the pharmaceutical sector.
• According to the Department of Industrial Policy & Promotion (DIPP), FDI inflows into
the state of Goa, during April 2000 to September 2017, amounted to US$ 964 million.
• The upcoming airport at MOPA is further expected to improve the connectivity of
Goa thus facilitating the economic growth.

Goa GSDP at current price in USD (bn)

12
10.85
9.62
10 9.04
8.29
7.93
8 7.02
USD (bn)

5.96
6

0
2011-12 2012-13 2013-14 2014-15 2015-16 2016-17 2017-18 (E)

Source: IBEF

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Advantage Goa

Facilitating
infrastructure

Availability of a vast
labour pool

Strong presence in
tourism and
pharmaceuticals

High economic growth

GSDP compounded annual
growth rate was approx 8.78
per cent between
2011–12 and 2016–17

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3 Goa tourism
Goa is known as the ‘state of beaches’, most of the travellers that visit
the state are there to relax and for recreational purposes. It has been
an interesting decade in the Goa tourism market as the number of
visitors to Goa in 2019 is more than thrice as much as in 2009 and
twice as much compared to 2014, underlining its attraction and
strength as a proven tourist market.

In 2019, a total of 8 million tourists visited Goa compared to 2.5 million

tourists visiting the state in 2009, a growth of 5.5 million, which
represents a 220 per cent growth over the period with 12 per cent
compounded annual growth rate.

The year 2020 saw tourist inflows nosedive due to the Covid-19
pandemic and cannot be relied on for studying tourist inflowtrends.

Tourist arrival (in lakhs)

100 40%
80 20%
0%
60 -20%
40 -40%
-60%
20 -80%
0 -100%

Domestic Foreign % Change

Source: Goa Tourism

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Domestic tourists
During the period 1985 to 1991 (91 per cent), domestic tourists formed approximately 88
per cent of the mix of arrivals. However, the period between 1995 and 2000 saw the share
of domestic tourists shrink below 80 per cent, reaching a low of 78 per cent in 1997. The
period beginning 2001 has seen a steady growth in domestic tourists visiting Goa, from 81
per cent to the 89 per cent witnessed in 2016, as well as 2017, and the current 88 per cent
in 2018 and 2019. The current spurt in numbers is due to the increase in the number of
domestic tourist arrivals, as the graphic below displays. 2020 paints a different picture due
to the COVID-19pandemic.
Domestic tourist arrival (in lakhs)
80.0 35% 34% 69.0 70.8 71.3 60%
70.0 19% 22% 40%
5% 5% 12% 56.5
60.0 4% 1% 3% 1% 20%
47.6
50.0 0%
In lakhs

40.0 35.5 -20%

23.4 26.3
30.0 20.2 21.3 22.0 22.3 -88% -40%
20.0 8.8 -60%
10.0 -80%
0.0 -100%

Domestic tourists % Change

Source: Goa Tourism

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International tourists
The foreign tourists’ share of arrivals is 11 per cent of the total tourists’ arrivals.

During the period 1985 to 1991 (9 per cent), foreign tourists formed approximately 12 per
cent of the mix of arrivals. However, the period between 1995 and 2000 saw the share of
foreign tourists increase to 20 per cent, reaching a high of 22 per cent in 1997. The period
beginning 2001 has seen a steady decline in foreign tourists visiting Goa, from 19 per cent
to 11 per cent in 2016, as well as 2017. It has improved by 1 per cent, i.e. 12 per cent in
2018, and the same has continued in 2019. The decline in numbers is attributed to a spurt
in the number of domestic tourists, as the graphic below displays.

The year 2016 and 2017 saw the foreign tourist arrivals grow at a rate of 26 per cent and
25 per cent, respectively. Between 2010 and 2019, the arrival numbers of foreign tourists
have doubled.
International tourist arrival (in lakhs)
26% 25% 9.3 9.4
10 17% 8.51 40%
7% 9% 4% 5% 9%
8 1% 1% 6.81 1% 20%
5.41 0%
In lakhs

6 4.51 4.92 5.14

4.41 4.46
3.51 3.77 -20%
4 2.8
-40%
2 -70%
-60%
0 -80%

Foreign tourists % Change

Source: Goa Tourism

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4 Goa hospitality
industry overview
The Goa hospitality market is broadly categorised into luxury
properties comprising hotels with 4 star and above ratings (4 Star, 5
Star, 5-Star Deluxe), budget hotels with 1, 2, 3 star ratings and unrated
holiday homes.

Almost 25 per cent of the inventory, by number of keys, belongs to the

4 Star and above category with 6,828 keys. The budget segment has 91
hotels with 4,790 keys.

Holiday home options are numerous and with the advent of players
like Air BNB and OYO, even beds within homes are being let out now,
which are difficult to estimate. It is estimated that the Goa market has
approximately 3,200 holiday home properties with approximately
20,500 keys.

The supply of hotels in Goa has increased at 10 per cent CAGR in the
past 10 years. The increase in room supply is half of the increase in the
inflow of tourists in Goa over the past 10 years.

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Supply-side analysis
Total number of classified hotels (3,4 & 5 star category) in Goa is 111. Of this, 26 of the
properties are 5 star and 5-star deluxe hotels, 37 are in the 4-star category and 48 in the 3-
star category. North Goa has a higher share of budget and mid-scale properties. South Goa
has a higher share of the upscale segment.

Goa ~ Hotel Category Distribution

North Goa South Goa Grand Total
111

79

48
41 37
28 26 32
10 16
7 9

3 star 4 star 5 star Total

Goa has three hotels with more than 250 keys. There are just 45 hotels with more than 100
keys. The limited inventory is not conducive for large conventions that need a higher
availability of rooms. The lack of larger size hotels severely limits the capacity of the region
to host large conferences and events.

Source: Knight Frank Research, Goa Tourism

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Demand-side analysis
Goa has been leading the benchmark in performance of the Indian hotel market for the
past decade, notwithstanding the dip in 2008–2009, which was on account of the global
financial market crisis leading to a global recession.

Goa had 2,768 keys in the classified hotel category (3,4 & 5 star) during 2007–2008 and
added 4,060 keys by the end of 2018–2019 at a CAGR of 8 per cent. The more than
doubling of the inventory had no perceptible impact on occupancy as the demand kept an
even pace with supply and also grew at a CAGR of 8 per cent.

Where the demand was for 1,998 room nights per day, it has now grown to 4,903 room
nights per day in 2018–2019. Goa is a unique market, where its demand is elastic, and only
limited by the availability of rooms and appropriate transportation to reach the desired
destination. In spite of all this, an important segment of travel, the business segment, is
nearly missing.

The market has the ability to absorb more supply and that can be induced through a large
convention centre with appropriate support infrastructure.

Hotel performance overview

9000 74.00%
8000 72.00%
7000 70.00%
6000 68.00%
66.00%
5000
64.00%
4000
62.00%
3000 60.00%
2000 58.00%
1000 56.00%
0 54.00%
2007 - 2008 - 2009 - 2010 - 2011 - 2012 - 2013 - 2014 - 2015 - 2016 - 2017 - 2018 -
08 09 10 11 12 13 14 15 16 17 18 19

No. of Rooms ARR Occupancy

Source: Knight Frank Research, Hotelivate, Secondary Market Research

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Goa hotel heat map

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 Existing large facilities

MICE large events profile Grand Hyatt 1,200 sq ft + Pre-function area

Conferences 3 halls plus 4 meeting spaces
313 keys
800 to 1,200 per annum, each 50 plus large annual events (100–200 keys)
needing 100 rooms for two Distance from Dabolim – 19 km (29 minutes)
nights Distance from MOPA – 40 km (60 minutes)
Weddings Holiday Inn
300–400 weddings needing 5,065 sq ft (largest ballroom in South Goa)
100–200 rooms for two nights Capacity – 800 pax
and three days 203 keys
Distance from Dabolim – 39 km (1 hour 3 minutes)
Distance from MOPA – 78 km (2 hr 20 minutes)

Taj Hotel & Convention Center, Goa

• Hillsidelocation and edge of the sea view
• Convention resort near Panjim that is central to Goa
• Largest conferencing venue along with the highest room inventory in Goa with ample dining
options
• 1,200 sq m pillarless convention hall with separate entrance
• Four meeting spaces totalling 3,000 sq ft with flexible seating and two board rooms with
fixed seating
• 282 rooms and 17 themed suites
• Recreation aplenty – Club lounge, two pools, Jiva spa, private cinema, rooftop sky bar,
terrace dining and a retail outlet

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Goa International Convention
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 5 Convention
industry overview
One of the most important and fastest growing sectors in the world, and
of the global tourism industry, is Convention Tourism, also known as MICE
– Meetings, Incentives, Conventions and Exhibitions.

As per the International Congress and Convention Association (ICCA), the

size of the international convention industry is estimated to be US$ 280
billion. The share of India in this is only US$ 4.8 billion.

In terms of number of meetings, India ranks 28th in the list of top 30

countries (9,317 meetings) which control over 75 per cent of the
international conventions market. India’s market share is 1.2 per cent in
this sector.

The entire tourism sector contributes approximately 2.2 per cent to the
gross domestic product (GDP). The convention tourism business, in turn,
contributes 5–7 per cent of the tourism revenues. Although this figure of
5–7 per cent is at par with other convention destinations, in volume terms,
it is nominal given the potential of the convention tourism industry in
India. Number of meetings (2018)
Number of meetings

1000
900
800
700
600
500
400
300 158
200
100
0
Belgium

Thailand
United Kingdom

Czech Republic
USA

France

Austria

Sweden

Hungary
Italy

Denmark

Singalore

Ireland
Germany

South Korea

Switzerland

Mexico

Norway
Spain

Canada

Portugal
Japan

Finaland
Netherlands

Australia

Poland
China

India
Brazil

Argentina

Source: ICCA Statistics Report 2018

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Asia Pacific convention scenario
India having hosted 158 meetings in 2018 is ranked 28th in the world and seventh in Asia.
The Asia Pacific region has a 23 per cent share of the international conventions market.
India, currently ranks seventh in the Asia Pacific region.

Number of meetings (2018)

600
Number of meetings

500
400
300
200 158
100
0

Bangladesh
Vietnam
Japan

Israel
Indonesia
China

Macao

Armenia
Chinese Taipei

Singapore

New Zealand
Phillipines

Iran

Laos
Myanmar
Azerbaijan
Hong Kong
Australia
Republic of Korea

India

Mongolia
Malaysia

Sri lanka

Cambodia
Thailand

Nepal

Source: ICCA Statistics Report 2018

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Asia Pacific convention cities
Singapore is a city state and has hosted 145 international meetings. It is ranked first in the
Asia Pacific City Rankings and is ranked eighth globally. Among the Indian cities, New Delhi
is the highest ranked at 14 with 43 conferences. Goa ranks 365th worldwide and 82nd in
the Asia-Pacific region in convention destination city rankings.

No. of conventions – Asian cities

160
140
120
100
80 ND, 14
60
40 Goa, 82
20
145 135 129 123 122 100 93 87 82 68 66 59 48 43 40 40 39 35 33 20 16 15 12 6
0
Brisbane
Sydney
Shanghai
Taipei

Auckland
Jeju
Singapore

Manila

Goa
Kyoto

Bali
Bangkok

Tokyo

Chennai
Seoul

Beijing

Mumbai
Busan

Hyderabad
Hong Kong

Melbourne

New Delhi

Bengaluru
Kualalampur

Source: ICCA Statistics Report 2018

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India convention market
One of the most important and fastest
growing sectors in the world, and of the
global tourism industry, is Convention
Tourism, also known as MICE – Meetings,
Incentives, Conventions and Exhibitions.

As per the International Congress and

Convention Association (ICCA), the size of the
international convention industry is
estimated to be US$ 280 billion. The share of
India in this is only US$ 4.8 billion.

In terms of number of meetings, India has a

share of only 1 per cent and in terms of
delegate arrivals/participation, its share is
only 0.7 per cent of the world’s figures.

The entire tourism sector contributes

approximately 2.2 per cent to the gross
domestic product (GDP). The convention Tourism
Revenue
tourism business, in turn, contributes 5–7 per
Convention
cent of the tourism revenues. Although this Tourism
figure of 5–7 per cent is at par with the other
convention destinations, in volume terms, it
is nominal given the potential of the
convention tourism industry in India.

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Market landscape
User base Over 1,000 industry associations Pharmaceutical
Pharmaceutical industry and social organisations hold industry is the
IT industry conferences in the size of 100 market leader.
Industry associations plus people There are 93
Corporate bodies topics/specialties on
Political parties Frequency – Annual or bi-annual which conferences
Religious congregations were held in 2016–
Expo organisers Rotation – Every fourth 17.
Event managers conference reverts to the
Weddings original zone
Government
Institutions

Outbound MICE market: Estimated at US$ 800 million with MICE tourists
volume > 1 million and expected to grow by 20 per cent Y-o-Y
NASCOMM
Short haul: Thailand / Malaysia / Singapore / Dubai / Sri Lanka / Nepal / organised 173
Hong Kong (economy) – 65 per cent market share – budget is USD 500–750 conferences in
per person 2016–17, with 158
being in the range of
Medium haul: Mauritius / Bali / Cambodia / Dubai (Luxury) / combo of approx 100–200
either Thailand, Singapore and Malaysia / Hong Kong (Luxury) and China / delegates.
Far-east Cruise (Star Cruises) / Mauritius / Egypt / Turkey / Macau / Bali / Two events of 2,000
Uzbekistan – 25 per cent market share – budget is USD 750–1,350 per pax
person Three events of
700–900 pax
Long haul: UK and other Europe combos (Switzerland, France, Spain, Italy, Five events of 400–
Austria) / South Africa / US (San Francisco, Los Angels, Las Vegas, Niagara) 570 pax
and Canada / Australia (Sydney, Gold Coast) / New Zealand – 10 per cent
market share – budget is more than USD 1,500 per person

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Goa International Convention
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6 Need gap
analysis
Latent demand is available in the market of western India due to a
need gap for an integrated convention facility that can host >5,000 pax
at one time and simultaneous multi-participant conferences.

To host a 700 pax conference, a mixed-category hotel

room infra of 1,000 keys is required

Most facilities today are surrounded by luxury hotels, that

makes it unviable for many.
Customer profile:
20 per cent: Senior Mgmt – Luxury/ upscale hotel
50 per cent: Mid-management/sales – Mid scale Hotel
30 per cent: Others – Budget

Capacity Support dining infrastructure Other infra

Venue with a Integrated food and beverage High speed
capacity of 3,000 – facility WiFi
5,000 pax in a Seating area for dining Green rooms
single hall along Pre-function networking Storage space
with parallel break- areas safety Lockers
away spaces in 500, Accommodation Parking
250X2 and 100X3 20,000 sq ft space needs Translation
capacity support of 700 keys on business
Double/Twin occupancy in Support
1:1 area ratio of price range of INR 2,500 to services
meeting space with INR 3,500 per person
exhibition space for 100 keys – Luxury
an expo 200 keys – Upscale
200 keys – Midscale
200 keys – Budget

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Convention demand

The large events and conventions organised by pharmaceutical companies like doctors’
conferences, annual industry association conventions, trade fairs and expos are generally
giving Goa a miss. Conservatively, the above demand currently exists and lack of venues is
not even raising enquiries in the Goa market.

It is the latent demand not being catered to in Goa owing to lack of large venues bundled
with rooms. Needless to say, a new convention centre, once operational, will penetrate
the existing demand and achieve its fair market share.

Universe of target events:

Large international conferences in India : 143

Government hosted conferences : 100
Association hosted conferences : 250
Industrial conferences : 500
Corporate events : 1,200
Weddings : 150

Assuming a fare share of 25 per cent for large conventions and 15 per cent for smaller
conferences with an average event duration of three days (including pre and post event
time), a stabilised demand of 655 day bookings is estimated.

Not every event would occupy 100 per cent of the facility. Assuming an average 33 per
cent of the space occupancy on an average event day, a stabilised occupancy of 55 per
cent can be achieved by the convention centre. The space required per delegate is approx
3.27 sq m of convention hall plus almost equal amount of supporting infrastructure.
Hotel room demand

The convention centre at its full capacity utilisation will generate demand for
approximately 3,000 hotel rooms.

The average demand at 55 per cent occupancy shall be for approximately 1,650 rooms.

For the convention centre to function without any constraints, it should have a captive
supply of at least 80 per cent of average room demand.

Also, the captive supply along with the neighbouring room inventory should be capable of
catering to the peak demand.

Taking the above into consideration, the convention centre complex shall require an
additional 1,300 rooms to be constructed.

Demand for hotel rooms:

Upscale : 300 keys

Midscale : 600 keys
Budget : 400 keys

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Goa International Convention
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6 The opportunity
The scope of work for the Concessionaire of the Project will broadly
include master planning of the entire Site, designing, engineering,
financing, procurement and construction of the project including a set
of Mandatory Facilities; and operation & maintenance of the Project
during the entire Concession Period of 60 (sixty) years (which shall
include the Construction Period) as more particularly set out in terms
of the Concession Agreement and its schedules, till the expiry of
Concession Period.
The Mandatory Facilities would include a cohesive development of :
i. a ~5000 seater state-of-the-art International Convention Centre
ii. a 500-room Convention Hotel
iii. a 4 screen not less than 800-seater Multiplex

The Concessionaire is allowed, as per the terms of the Concession

Agreement, to develop Downstream Assets in addition to the
Mandatory Facilities on the balance portion of the Site as permissible
under applicable laws and development control regulations.

Downstream Facilities
Permissible facilities: Hotel (various categories), integrated
entertainment and shopping Centre/Complex, retail outlets, food
courts, pubs, bowling alleys, restaurants, fast food outlets, health
spas/ centers, etc.
FSI available for development of downstream facilities: ~2 mn sq ft.

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Roles & Responsibilities - GoG

Environmental T runk
clearance for infrastructure
Phase 1
Phase 1 environment Facilitate provision of
clearance after receipt of external infrastructure
Master Plan from (road, water and power)
Concessionaire

Support in obtaining
approvals
Provide support on best effort basis to the Concessionaire
in procuring Applicable Permits/ Statutory Approvals

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Roles & Responsibilities - Concessionaire

M aster planning & Obtaining Raising finance

land development necessary for
approvals development

Development of Development of Operations and

M andatory Downstream maintenance of
Facilities Assets Project
Mandatory Facilities

International Standard Convention Centre with the

following minimum requirements:
• 6,000 sq m plenary hall 5,000 pax capacity
• 4,000 sq m indoor exhibition space
• 4,000 sq m of outdoor exhibition space

4-screen multiplex with minimum 800 seats

(to be developed within the Convention
Centre Complex)

500-key Convention Hotel meeting minimum 4-star

standards

Parking and Common Infrastructure Facilities

Goa International Convention
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Contact us:
Di rector PPP Di vision,
Department of Finance
Room No. 19
Secretariat,
Porvori m, Goa
Phone No.: 0832 2419543
E-ma il: ppp-cell.goa@nic.in

42

Disclaimer

The s tatements, information and opinions expressed or provided in this

publ ication are i ntended only a s a guide to some of the important
cons iderations that relate to property i nvestment. Although we believe they
a re correct and not misleading, with every effort havi ng been made to ensure
tha t they a re free from error, they s hould not be taken to represent, nor are
they i ntended to represent, investment advice or specific proposals, which
mus t a lways be reviewed i n isolation due to the degree of uniqueness that will
a tta ch thereto.
Nei ther the GoG, Knight Frank nor a ny persons involved in the preparations of
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