Representative ImageThe Indian hospitality industry experienced strong growth in Q4 ( October-December ) 2024, with the top six markets seeing year-over-year increases in both Revenue Per Available Room ( RevPAR ) and Average Daily Rate ( ADR) increases. Hyderabad recorded the highest RevPAR growth of 23.3 %, largely due to a significant increase in ADR, making it the standout performer. Bengaluru also demonstrated remarkable resilience, with higher RevPAR growth supported by improvements in occupancy and ADR rates. Significant hotel signing action was reported for the quarter, with 99 fresh hotels signing a total of 11, 943 keys. This indicates that the Indian kindness market will continue to grow and have investor confidence. The entire transaction worth for 2024 is thought to be INR 2, 900 crore, which is a substantial investment in the industry. Interestingly, Tier II and Tier III cities accounted for 50 % of the transactions, primarily involving midscale properties that were not of a certain brand. This suggests that there is a growing desire to expand the hospitality industry beyond the main urban locations. High-Net-Worth Individuals ( HNIs ), family offices, and private owners accounted for 51 % of the investment volume in the investment landscape, which saw a diverse level of participation. Tier II and III places, which accounted for 75 % of new hotel deals, saw a major shift in Q4 2024. The midsize market dominated, accounting for 44 % of signings and 53 % of hotel openings. With 1, 744 locks, Uttar Pradesh led in deals. Ironically, HNIs, home offices, and personal users each contributed 51 % of the investment volume, which demonstrates a growing interest from individual owners in the hospitality industry. In Delhi’s Yashobhoomi and Mumbai’s aircraft area, new hotspots are emerging, indicating potential for growth in these places. Nevertheless, the report’s forecast for the Indian hospitality sector’s growth, which is spread across several cities, tiers, and segments, gives a sense of the sector’s outlook. In India, there was an unprecedented level of activity in the housing industry in 2024. Hotels investments, which were supported by strong local vacation demand in both the business and leisure sectors, attracted a number of new groups, particularly in tier II and tier III cities, to construct new hotels. Last year, we saw 367 fresh resort additions and 154 new lodge openings. This accounted for 14 % of the growth over the course of 2023. This is positive for the ecology of the hotel industry because it will spur growth in development task, financing exercise, and ultimately creating jobs across the board,” said Jaideep Dang, Managing Director, Hotels and Hospitality Group, India, JLL. &# 13,
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JLLJaideep DangIndian kindness industry
