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Investments in Indian hospitality industry to exceed $2.3 billion over 2-5 years: CBRE

Posted : 29 May 2023 09:29:16 | By TWO Bureau | GNN Bureau

Investments in Indian hospitality industry to exceed $2.3 billion over 2-5 years: CBRE

Investments in India’s hospitality industry are likely to surpass $2.3 billion over the next two to five years, according to a recent report by real estate consulting firm CBRE South Asia.

The report, titled ‘Indian Hospitality Sector: On a Comeback Trail’ highlights the positive outlook for the sector, driven by a successful vaccination program, reopening of borders, removal of travel restrictions and sustained economic growth.

According to the report, the recovery path for the hospitality sector is becoming clearer, with more than $400 million in investment expected during 2020-23. It also predicts the addition of approximately 12,000 rooms in 2023, with numbers expected to grow at a compound annual growth rate (CAGR) of around 3.3% by 2025.

Anshuman Magazine, Chairman & CEO - India, South-East Asia, Middle East & Africa at CBRE, said, “International hotel chains have been making significant investments in the country in recent years, capitalizing on the growing demand for hospitality services."

The report also highlights that all industry key performance indicators (KPIs), such as occupancy rate, average rental revenue per occupied room, and revenue per available room, are expected to surpass pre-pandemic levels this year. In 2022, India witnessed a 94% growth in revenue per available room, compared with 2021, indicating a smooth recovery from the impact of the pandemic.

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Tags : #CBRE, #Invest, #Indian_Hospitality_Industry, #Exceed, #2.3_Billion_Dollars, Hospitality,

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