Hotel Investment Trends - India H1 2023

A significant rebound in hotel investment volumes.

September 22, 2023
  • Sailee Bhandarkar
  • Adhiraj Guha
  • Amal Raju

The hospitality sector in India has experienced a significant rebound in hotel investment volumes, according to the latest data from JLL Hotels & Hospitality Group. In 2022, the sector recorded a total deal volume of USD 73 million, marking a substantial increase compared to the previous two pandemic years. This growth trend has continued in H1 2023, with hotel transaction volumes standing at USD 175 million.

Key insights from the report:
  • High-net-worth individuals (HNIs) are increasingly diversifying their investment portfolios by entering the hotel asset class.

  • NCLT resolution cases are also gaining traction, with a focus on operational assets in prime destinations.

  • Investment momentum to persist throughout H2 2023, with an estimated volume of approximately USD 88 million 

  • In 2022, a record number of hotel signings (19,860 keys) and openings (9,961 keys) were witnessed.

  • While greenfield projects dominated the hotel signing landscape, brownfield projects witnessed a rising share, reaching 44% at its peak in 2021 and 32% in 2022

  • Tier 1 cities experienced a gradual rise in the share of lease/revenue share agreements, as owners sought models with reduced risk exposure.

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