Saturday, Apr 19 2025 | Time 11:17 Hrs(IST)
Business EconomyPosted at: Apr 14 2025 1:19PM


India's hospitality sector surges: Multimillion-dollar investments and over 42,000 new hotel keys in 2024

Kolkata, Apr 14 (UNI) India's hospitality sector demonstrated remarkable resilience and growth in 2024, maintaining investment levels on par with the previous year.
This robust performance, as reported by JLL's latest analysis, signals a strong recovery and expanding footprint for the industry across the subcontinent.
The year 2024 saw about 25 deals, primarily involving operational properties in both business and leisure destinations. What's particularly noteworthy was the significant shift towards Tier II and III cities, which accounted for nearly half of all hotel transactions. This trend has effectively broadened the industry's reach, bringing quality accommodations to previously underserved markets such as Amritsar, Mathura, Bikaner, and several others.
Investor diversity was a key feature of 2024's landscape. High-net-worth individuals, family offices, and private hotel owners led the charge, contributing 51% of the transaction volume. Listed hotel companies followed closely at 34 percent, while owner-operators and real estate developers made smaller but significant contributions at 8 pc and 7 pc respectively.
The industry's growth is further evidenced by the impressive number of branded hotel signings, totaling 42,071 keys in 2024. Remarkably, 77 pc of these signings were concentrated in Tier 2 and 3 cities, underlining the sector's expansion beyond traditional urban centers. Management contracts dominated these agreements, accounting for 81 pc of the total keys signed, while franchises and lease / revenue share agreements across tiers stood at 14 pc and 5 pc respectively. The number of greenfield projects in 2024 (~28,281keys) crossed the full year of 2023 (~13,600 keys), indicating the enduring confidence of hotel developers in the sector’s long-term growth. Tier 1 markets such as Mumbai, Bengaluru, Hyderabad, Pune, and Chennai saw signings of hotels with 250+ keys, signaling sustained interest in these hubs due to robust domestic demand and thriving commercial activity.
“The first quarter of 2025 has ignited a dynamic hotel transactions market, with JLL already facilitating two deals in Chennai and Goa. Investor enthusiasm for both operational assets and land parcels underscore the sector's attractiveness, buoyed by favorable economic conditions, expanding commercial markets, and Government's recent budget push for tourism. This positive outlook is reinforced by substantial hotel development across various tiers, with over 42,071 keys signed in 2024. Following 2024's record-breaking year in hotel investments, openings, and signings, 2025 has commenced strongly and is further expected to maintain this momentum,” said , managing director, Hotels and Hospitality Group, India, JLL. Jaideep Dang.
As India's hospitality sector continues to evolve and expand, it's clear that the industry is not just recovering but thriving, with a bright future ahead in both established and emerging markets across the country.
JLL is India’s premier and largest professional services firm specialising in real estate.
UNI PC KK
Please log in to get detailed story.
Tags: #India's hospitality sector surges: Multimillion-dollar investments and over 42#000 new hotel keys in 2024
More News
Toshiba signs MoU with Telangana Govt

Toshiba signs MoU with Telangana Govt

18 Apr 2025 | 7:12 PM

Hyderabad/Tokyo, Apr 18 (UNI) Apr 18 (UNI) The Toshiba Transmission Distribution Systems (India) Private Limited (TTDI), a wholly-owned subsidiary of Toshiba Corporation, Japan, and a global leader in the supply of Transmission cum Distribution (TCD) equipment for both conventional and renewable energy sources, has signed a Memorandum of Understanding (MoU) with the Government of Telangana to establish a new manufacturing facility for Surge Arresters and expand its existing manufacturing facilities for Power and Distribution transformers and Gas Insulated Switchgear (GIS) at its Rudraram plant, outskirts of Hyderabad, in Telangana.

see more..
AP: Pralhad Joshi visits Greenko’s Integrated Renewable Energy Project in Pinnapuram

AP: Pralhad Joshi visits Greenko’s Integrated Renewable Energy Project in Pinnapuram

18 Apr 2025 | 6:38 PM

Pinnapuram (Andhra Pradesh), Apr 18 (UNI) Union Minister of New and Renewable Energy Pralhad Joshi visited Greenko’s largest GW-scale Integrated Renewable Energy Project here on Friday.

see more..

UP govt to set up Invest UP offices in three metro cities

18 Apr 2025 | 6:21 PM

Lucknow, Apr 17 (UNI) In a push towards transforming Uttar Pradesh into a 1 trillion dollar economy, the state government is set to establish Invest UP offices in three of India's major metro cities, including New Delhi, Mumbai and Bengaluru, official sources said here on Friday.

see more..

Nom Nom Express Upgrades India’s QSR Culture

18 Apr 2025 | 5:07 PM

Mumbai, Apr 18(UNI) Aspect Hospitality unveiled 25 outlets of its Pan-Asian brand, Nom Nom Express, across Mumbai and Pune—marking one of the largest digital launches in the space, according to a statement issued here on Friday.

see more..

Zydus Medtech partners with Braile Biomedica to commercialise TAVI technology

18 Apr 2025 | 3:16 PM

Mumbai, Apr 18 (UNI) Zydus MedTech Private Limited, a wholly owned subsidiary of Zydus Lifesciences Limited on Friday entered into a strategic partnership with Braile Biomédica Indústria, Comércio e Representações Ltda., (Braile Biomedica) - an innovative cardiovascular device manufacturer based in Brazil - to exclusively commercialise its Transcatheter Aortic Valve Implantation (TAVI) technology across Europe, India, and other select markets.

see more..