A report titled Indian Hospitality Sector: On a Comeback Trail by real estate consultant CBRE has forecasted that hospitality sector in India will attract investments exceeding US $2.3 billion over the next 2-5 years owing to strong COVID vaccination programme, reopening of borders and sustained economic growth.
“About 12,000 rooms are likely to be added in 2023, and the number of rooms is expected to grow at a compounded annual growth rate of 3.3 per cent by 2025. More than US $400 million in investment is expected during 2020-2023. Demand over the next few years is likely to be more equilateral and broad-based rather than being centred across only select cities/markets,” the report stated.
