Making inroads into the hotel sector are real estate companies, builders
Builders, along with numerous real estate companies nationwide, are venturing into the hotel sector. Last month, Prestige Estates Projects, a leading real estate company, entered into an international agreement with Marriott International to construct six hotel projects in southern states. These projects are valued at Rs. 4,250 crore. Additionally, in March, DLF Real Estate Company announced the launch of a new company, Advent International Limited, by splitting its hospitality division. From five to seven years, they have allocated Rs. 10 billion for the construction of numerous hotels nationwide. Lodha Group invested Rs. 2,450 crore in the hospitality sector.
Furthermore, the DS Group has prepared guidelines for investing billions. As a result, there is rapid growth in the hospitality sector nationwide. Real estate experts are commenting that this is a golden age for the hospitality industry in India. From 2007 to 2023, branded hotels grew by 8.37 percent. It is more than 10 percent in Ahmedabad, Bangalore, Pune, and Jaipur. In 2023-24, 190 new hotels began, with agreements in place for 275 more. Looking at the economic indicators, rents have increased by 12 percent annually, with agreements in place for 30 percent higher rents.
