Competition in hospitality market to test players in Bangalore
The hospitality sector in Bangalore is expected to be tested in the short term as the capacity is being doubled. However, in the long term, the new supply is expected to be absorbed into the marketplace as more development and growth occurs, according to a latest report by realty consultancy firm Jones Lang LaSalle (JLL).
The rapid development in the city’s commercial sector has also triggered growth of the local lodging industry. Bangalore presently has 7,734 rooms spread across 48 hotels and the present supply is expected to witness a significant increase with 22 hotels in the branded segment coming up in the near future. Bangalore’s lodging market was amongst the best performing hospitality markets in India in terms of RevPAR performance till 2008-09.
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