01 April 2024 – As to statistics given in JLL India’s ‘Hotel Investment Trends – India 2023′ research shared exclusively with ET, investment activity in India’s hospitality industry reached a record $ 401 million in 2023, virtually quadrupling compared to 2022.
According to JLL, 22 hotel deals were reported in 2023, and most properties moved in the previous ten years. High-net-worth individuals and institutional investors drove the majority of transaction activity. According to the research, hotel transaction volumes increased significantly by 80% year over year from January to March of the first quarter of 2024, reaching a total of $78 million.
In 2023, 25,176 keys were signed, and 12,647 keys were opened, a record number of signatures and openings. Greenfield projects totalling 13,600 keys were completed in 2023, up from 8,000 keys in 2022. This indicates that developers are confident in the sector’s potential for long-term expansion.
Conclusion
2024 has gotten off to a fantastic start, according to Jaideep Dang, managing director of JLL’s Hotels and Hospitality Group for India. The business has already witnessed several significant hotel sales this year. The success of hotel stocks, which also offered confidence to hotel firms joining public markets and reaching excellent valuations, has further bolstered the sector’s excitement, he said.
