Hotel Room Signings in India Up 40% - India Report

Branded hotel room signings in India during the April to June quarter surged by nearly 40% from the same period in 2023, according to data by real estate services company JLL. During the quarter, over 9,700 new keys across 82 branded hotels were signed, while another 50 hotels opened during this period. 

Hotel brands continued to focus on Tier-2 and Tier-3 cities, which accounted for 70 of the hotel signings and 45 hotel openings. Midscale and upscale hotels dominated the signings and openings during the period, while a total of only four budget hotels were signed and opened. 

JLL also reported a significant increase in revenue per average room (RevPAR) in five key markets: Bangalore, Chennai, Delhi, Hyderabad, and Mumbai. Goa however saw its RevPAR decline by 6%, even as the occupancy rate in the state increased by over 1.5%. Hyderabad reported the most significant increase in the average daily rates - 15%. This translated into a nearly 12% increase in the state’s RevPAR during the quarter. 

JLL India hotels and hospitality managing director Jaideep Dang said, “There is strong momentum on both greenfield developments as well as operating assets across business and leisure markets.