India hotel investments $567M in 2025

JLL said on April 14, 2025 that India’s hotel investment market logged about 25 transactions in 2024, with volumes roughly in line with the previous year and activity spreading beyond the largest cities. The property consultant said Tier II and III cities accounted for nearly half of hotel transactions, while high-net-worth individuals, family offices and private hotel owners led the buyer mix. JLL also said branded hotel signings in 2024 reached 42,071 keys and openings totaled 11,352 keys. HVS Anarock, in a separate report published on May 8, 2026, said India’s hotel sector carried that momentum into 2025 with strong operating performance and a new high in development activity. ### Where does the reported $567 million figure come from? The $567 million figure cited in the prompt could not be verified in the primary-source material available through JLL, HVS Anarock or other sector reports reviewed for this story. JLL’s April 2025 release said 2024 hotel transactions in India were valued at about 25 deals, but the excerpt available did not state a 2025 total of $567 million across 28 transactions. (jll.com) JLL did publish a forward-looking estimate later in 2025. In a Nov. 4, 2025 release announcing Gaurav Sharma’s appointment to lead its India Hotels & Hospitality business, JLL said total hotel transaction volume in 2025 was forecast at $450 million and projected the market could reach $1 billion by 2028. ### What do verified sources say about India’s hotel investment market? (jll.com) JLL said the first half of 2024 produced six deals worth $93 million, with listed hotel companies accounting for 44% of transaction volume, followed by owner-operators at 30% and high-net-worth individuals, family offices and private hotel owners at 26%. The firm said those transactions ranged from operating hotels in Tier I and leisure markets to land leases for greenfield projects. (jll.com) For full-year 2024, JLL said investor participation broadened. High-net-worth individuals, family offices and private hotel owners contributed 51% of transaction volume, listed hotel companies accounted for 34%, and owner-operators and real estate developers made up 8% and 7%, respectively. The firm said roughly half of all hotel transactions were in Tier II and III cities, including markets such as Amritsar, Mathura and Bikaner. (jll.com) ### What was happening in the operating market at the same time? JLL said India’s hospitality industry posted 12.9% year-on-year RevPAR growth in the April-to-June 2025 quarter, with pan-India RevPAR up 10% from the previous quarter. The firm said 103 hotels with 12,991 keys were signed in Q2 2025 alone, with Bengaluru, Hyderabad, Chennai, Delhi and Mumbai among the markets showing strong rate and revenue performance. (jll.com) HVS Anarock said in its 2025 industry overview that total air passenger traffic in India reached about 420 million in 2025, including 338.9 million domestic passengers, while foreign tourist arrivals were estimated at about 9.02 million. The report said domestic tourist visits were estimated at about 4.55 billion in 2025. ### How strong was hotel development in 2025? (jll.com) HVS Anarock said brand signings in India reached about 64,118 keys across 586 properties in 2025, while openings totaled about 14,199 rooms across 176 properties. The firm said sustained travel demand, stronger operating performance and rising confidence among operators, developers and investors supported the pace of signings. (hvs.com) JLL also pointed to rapid expansion earlier in the cycle. In its April 2025 release, the firm said 77% of branded hotel signings in 2024 were concentrated in Tier II and III cities, while greenfield projects crossed 28,000 keys. ### Who is shaping the next phase of the market? JLL said on Nov. 4, 2025 that Gaurav Sharma would lead its Hotels & Hospitality Group in India and serve as senior director for hotel capital markets in Asia. (hvs.com) The company said Sharma would be based in Delhi and report to Nihat Ercan, chief executive of JLL’s Hotels & Hospitality Group, Asia Pacific. (jll.com) JLL said at that time that India’s hotel sector had delivered 10.5% year-on-year RevPAR growth as of year-to-date September 2025 and that 182 hotel signings totaling 22,469 keys were recorded in the first half of 2025. The company’s next published marker for readers tracking the sector is its subsequent India hotel and hospitality research, while HVS Anarock’s May 8, 2026 overview provides the latest broad 2025 snapshot and 2026 outlook now available. (jll.com)