According to a report published by Jones Lang LaSalle, financial and professional services consultancy, in addition to the existing 7,734 rooms, Bangalore is expected to add another 9,800 rooms in the branded segment in the next five years.
Sudeep Jain, executive vice-president India, Jones Lang LaSalle Hotels told DNA, “In terms of market performance, Bangalore initially numbered among the best-performing hotel markets in India, attracting a number of developers to enter the hospitality space.” The city has consistently been among the top performing hospitality markets in India in terms of revenue per available room (RevPAR). However, it bowed down to pressure during the economic crisis in 2009-10 when RevPAR across the market saw a decline. At its peak, average room rates (ARR) touched `12,000 in 2008-09 before crashing by over 30% during the recession. Marking a recovery, the ARR have shot up by 7% during 2010-11 to `8,700. Sudeep Jain further said, “With the stabilisation of domestic and global economies, the market recovered in 2010-11. We expect Bangalore to maintain its position as one of the most dynamic and promising hospitality markets in the future as well.” An additional 22 hotels are expected to launch in the branded segment over the next few years. Among the prominent names making their entry into the Bangalore market are JW Marriott, Ritz Carlton, Shangri-La and the Hilton. According to the report, the hospitality sector in Bangalore is dominated by five-star hotels contributing to 33% of the total inventory, 15% being five-star deluxe hotels; four-star hotels contributed to 21% of the total capacity and 3 star hotels contributed 24%. The city is among the leading commercial hubs in the country owing to the presence of a sizable number of national and international companies. This has benefited the lodging and hotel industry.
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Sudeep Jain, executive vice-president India, Jones Lang LaSalle Hotels told DNA, “In terms of market performance, Bangalore initially numbered among the best-performing hotel markets in India, attracting a number of developers to enter the hospitality space.” The city has consistently been among the top performing hospitality markets in India in terms of revenue per available room (RevPAR). However, it bowed down to pressure during the economic crisis in 2009-10 when RevPAR across the market saw a decline. At its peak, average room rates (ARR) touched `12,000 in 2008-09 before crashing by over 30% during the recession. Marking a recovery, the ARR have shot up by 7% during 2010-11 to `8,700. Sudeep Jain further said, “With the stabilisation of domestic and global economies, the market recovered in 2010-11. We expect Bangalore to maintain its position as one of the most dynamic and promising hospitality markets in the future as well.” An additional 22 hotels are expected to launch in the branded segment over the next few years. Among the prominent names making their entry into the Bangalore market are JW Marriott, Ritz Carlton, Shangri-La and the Hilton. According to the report, the hospitality sector in Bangalore is dominated by five-star hotels contributing to 33% of the total inventory, 15% being five-star deluxe hotels; four-star hotels contributed to 21% of the total capacity and 3 star hotels contributed 24%. The city is among the leading commercial hubs in the country owing to the presence of a sizable number of national and international companies. This has benefited the lodging and hotel industry.
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