Hotel Industry To Be Constrained In Near Term: Study | Business Standard India
With around 3,620 new hotel rooms in the branded segment expected to be operational over the next three years, the hospitality industry in Chennai is expected to be constrained in the near term, though the adverse impact is expected to be short-lived, according to a study from real estate services firm Jones Lang Lasalle, India.
With around 3,620 new hotel rooms in the branded segment expected to be operational over the next three years, the hospitality industry in Chennai is expected to be constrained in the near term, though the adverse impact is expected to be short-lived, according to a study from real estate services firm Jones Lang Lasalle, India (JLL).
Chennai, at present, has 29 branded hotels with 4,656 rooms across different categories. According to the Hotel Intelligence Report from Jones Lang LaSalle Hotels, India, released in April, 2012, around 17 hotels with an inventory of 3,620 rooms in the branded segment are under construction. Besides, an inventory of almost 2,500 rooms are presently in their various stages of planning and are expected to be operational in the next 5-7 years.