The Hospitality Sector is growing at a steady pace, with newer segments such as MICE, wellness & medical tourism and pilgrimage witnessing a steady growth.
In order to cater to the growing demand for hospitality, 50,000 new hotel rooms are expected as fresh supply in the next 4-5 years in top six cities of India. With many international brands entering India, the quality of hotel services is also expected to improve.
The report evaluates the performance of the hospitality sector in India and takes a look at the performance of hotels in NCR, Mumbai, Bangalore, Chennai, Hyderabad and Pune.
The growth momentum in Asia Pacific slowed in the third quarter as a result of continued uncertainty. Several countries lowered their GDP growth forecasts and most central banks in the region have in place tightening cycles on hold. Nevertheless, office fundamentals remained strong except for supply heavy markets. We expect a continued slowdown as we enter 2012 but the Asia Pacific region is well positioned to weather a challenging global economy.
We are pleased to present our inaugural edition of the Asia Pacific Office Forecasts. The report provides an in-depth outlook for the region whose fundamentals and potential are by far the strongest in the current global economic climate. While a downshift in exports to the West would still be felt, particularly for open small economies, the region as a whole has evolved to be more resilient. The regional office property market should similarly reflect this. The combination of growing economic clout, still-sturdy property market fundamentals and the abundance of capital will continue to position the Asia Pacific favorably in this period of economic uncertainty and thus remain a magnet of investor interest.