Hotel deals are slowly picking up in India after a slump in 2016 as institutional investors and hospitality firms show increasing interest in acquiring assets in the sector which has seen some recovery during the past year. 12 private equity deals worth around $91.69 million (Rs.587 cr.) have closed so far this year as against a total of $40.85 million in 17 deals the whole of last year. 2017 is poised to close hotel transactions worth around $500 million, of which deals about $100 million have already been signed. Pan-India hotel occupancy has touched 65% in 2017 for the first time since 2008-2009 while average daily rate (ADR), or the average realized room rental per day, has shown improvement for two consecutive years.

(DealStreet Asia)