Mandeep Lamba, President (South Asia), HVS Anarock commenting on the latest ‘Brand Signings in 2020’ report states that “Brand signings by keys witnessed a year-on-year decline of 40% in 2020 in the aftermath of the ongoing pandemic. During the year marred with uncertainty, 100 new hotels entered the branded hotels market, while an additional 35 hotels were re-branded. Domestic hotel operators continued to sign more properties vis-à-vis their international peers, but in a shift in strategy, international hotel operators were also keen on signing smaller properties, as they adapted to the changing market dynamics and looked at increasing their footprint in smaller cities.”
