Hotel investments in India touched $ 401 million last year: JLL
hospitality sector witnessed a record $ 401 million worth of investment activity in 2023, a nearly fourfold rise compared to 2022, as per data cited in JLL India’s 'Hotel Investment Trends — India 2023' report shared exclusively with ET.
JLL said 2023 saw 22 hotel transactions, which is the largest number of assets traded in the last decade, with high net worth individuals and institutional investors contributing the most to transaction activity.
The report mentions that January to March, the first quarter of calender year 2024 has seen a significant 80% year-on-year increase in hotel transaction volumes, reaching $ 78 million.
A record number of signings and openings took place in 2023, with 25,176 keys signed and 12,647 keys opened. There were greenfield projects totalling 13,600 keys in 2023, up from 8,000 keys in 2022, demonstrating the confidence of developers in the long term growth potential of the sector.
Jaideep Dang, managing director, Hotels and Hospitality Group for India at JLL said 2024 has started with strong tail winds as the company has seen prominent hotel deals early on in this year.
“The year 2023 has been a record year not only in terms of hotel investments but also in terms of new branded hotel openings and signings. The enthusiasm of the sector is further strengthened by performance of hotel stocks, which also gave confidence to hotel companies entering public markets and achieving strong valuations,” he said.
“We expect this story to continue in 2024 on the back of diversified avenues
