New Delhi, Sep 5 (IANS) Buoyed by overall infrastructure growth and expanding commercial market, the hospitality investment sector in the country showed robust growth in the first half this year, according to a new report.
Hotel investment transactions reached $93 million and are expected to reach $413 million by year-end — a 22 per cent increase compared to last year, according to latest data from JLL Hotels and Hospitality Group
Top hotel companies led by contributing 44 per cent of the total transaction volume. It was followed by owner-operators at 30 per cent and high-net-worth individual (HNIs), family offices, and private hotel owners at 26 per cent.
According to the report, the positive momentum is set to continue throughout the second half of the year.
Key markets, including Mumbai, Hyderabad, Pune and Chennai, remain dominant, accounting for 78 per cent of the projected transaction volumes.
Tier 2 and 3 markets are likely to contribute the remaining 22 per cent.
Notably, JLL has already facilitated two significant transactions at the onset of the second half of 2024, comprising an operational hotel in Mumbai and a premium hotel land sale in Goa.
“The surge in investor interest for both – operating assets and land sales illustrate the attractiveness of the investment landscape, bolstered by favourable macroeconomic factors, an expanding commercial market, and improved air connectivity,” said Jaideep Dang, Managing Director, Hotels and Hospitality Group, India, JLL.
This positive outlook is further reinforced by the substantial hotel development activity witnessed across various tiers, with over 19,440 keys signed in the first half of 2024 alone, the report mentioned.
Another report earlier this month said that 2,706 new rooms were added in the upscale and premium segment in the first half of this year, amid a notable growth in infrastructure development. Out of these, 994 rooms (37 per cent) were upscale while the remaining (63 per cent) consisted of premium inventories.
Indian hospitality industry is on a strong footing marked by a rise in occupancy, new projects opening and a bullish pipeline for the future, according to Skye Hospitality.
–IANS
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