Mumbai, Apr 14 (PTI) India’s hospitality sector, which grew at par with the earlier yr, witnessed a shift towards tier-II and III cities, which accounted for almost half of all lodge transactions, a report mentioned on Monday.
The yr 2024 saw roughly 25 offers, primarily involving operational properties in each enterprise and leisure locations, actual property guide JLL mentioned in a report.
It mentioned there was a major shift towards tier-II and III cities, which accounted for almost half of all lodge transactions.
This development has successfully broadened the trade’s attain, bringing high quality lodging to beforehand underserved markets corresponding to Amritsar, Mathura, Bikaner, and a number of other others, it added.
Throughout 2024, the report mentioned, saw investor variety with high-net-worth people, household places of work, and personal lodge house owners contributing 51 per cent of the transaction quantity.
Listed lodge firms adopted intently at 34 per cent, whereas owner-operators and actual property builders made smaller however vital contributions at 8 per cent and seven per cent, respectively, it acknowledged.
The variety of greenfield tasks in 2024 (28,281 keys) crossed the total yr of 2023 (13,600 keys), indicating the enduring confidence of lodge builders in the sector’s long-term progress.
Tier I markets corresponding to Mumbai, Bengaluru, Hyderabad, Pune, and Chennai saw signings of resorts with over 250 keys, signalling sustained curiosity in these hubs as a consequence of strong home demand and thriving industrial exercise, mentioned the report.
“The primary quarter of 2025 has ignited a dynamic lodge transactions market, with JLL already facilitating two offers in Chennai and Goa. Investor enthusiasm for each operational belongings and land parcels underscore the sector’s attractiveness, buoyed by favorable financial circumstances, increasing industrial markets, and the federal government’s latest Finances push for tourism,” JLL India Managing Director, Inns and Hospitality Group, Jaideep Dang, mentioned.
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