India's organized hotel industry is set to exceed 3 million rooms by 2029, driven by religious tourism, rising incomes, infrastructure projects, and major airport developments.
Sonesta International Hotels Corporation has partnered with Mint Developers to build The James Hotel & Residences Downtown Miami, an $850 million, 82-story tower set to open in 2028.
CBRE’s 2024 Global Hotels Midyear Outlook highlights modest RevPAR growth in the U.S., strong resilience in Northern Latin America, slower growth in Europe with luxury outperforming, rising occupancy in the Middle East, and increased air travel boosting Asia Pacific markets.
