India Hotel Investments Rebound to Pre-Covid Levels
Skift Take
The Indian hospitality industry is experiencing strong investment growth in greenfield hotel developments, particularly in tier 2 and 3 cities, with investments rebounding to pre-Covid levels and expected to surge further in 2024.
The latest report from HVS Anarock shows the Indian hospitality industry has ramped up investments in greenfield hotel developments, driven by the demand coming from tier 2 and 3 cities and rising disposable incomes and overall economic growth. The report said greenfield hotel investments in India rebounded to pre-Covid levels in the first half of this year, accounting for nearly 48% of hotel brand signings by keys, surging to 53% in early 2024. HVS Anarock said the growth was driven by hotel chains aggressively expanding in tier 2, 3 and 4 cities. Cities like Indore, Kanpur, Bhubaneswar, Varanasi, Udaipur and Coimbatore are experiencing a rise in demand. JLL Hotels and Hospitality Group previously reported that hotel investment transactions are expected to rise 22% this year to US$413 million.
Macau's average five-star hotel room rate in August was MOP1,652.7 (US$206), down -0.1% year over year. The Macau Hotel Association said that
