According to JLL’s report titled ‘Hotel Momentum India’ for Q2 2020, Gujarat had the highest number of branded hotel openings in Q2 2020 at 111. It also had 129 branded hotel signings in the same period.
“Whilst hotels in certain cities opened in early June, guests have not yet returned. We believe that demand in business cities will take time to recover and it will only happen when companies allow their employees to travel through their revised travel advisories. Leisure demand may pick up around large cities wherein close friends and family groups may start travelling by road in the coming months,” added the report.
“Investors are taking a sharper interest in exploring operational hotel opportunities. Conversations are progressing, but site visits are still out of bounds and hence transactions and development activity has not yet begun. However, we remain confident that activity will resume in the medium-term,” says Jaideep Dang, Managing Director, Hotels & Hospitality Group (India), JLL
