To strengthen its portfolio, Jaideep Dang has been appointed as the Managing Director of JLL India’s Hotels & Hospitality Business. Jaideep has previously worked with the firm from 2004 to 2011. Prior to joining JLL, Jaideep was working as Senior Vice President – Strategic Development for the India sub-continent, Asia and Africa in The Oberoi Group.
Commenting on Jaideep’s appointment, Ramesh Nair, CEO & Country Head, JLL India said, “With his ability to develop and nurture long standing relationships with Indian and international hotel chains, developers and investors, Jaideep’s return to the JLL India fold provides us with a significant advantage in taking our hospitality business to the next level.”
“The hotels sector in India is experiencing healthy growth on the back of increased foreign tourist arrivals and growing domestic demand. Average rooms rates as well as occupancy ratios across all hotel segments has witnessed upward movement in all key business and leisure markets in India,” Jaideep Dang.
“On the other hand, new branded hotel supply is also adding up, albeit cautiously, which is a healthy scenario for new hotels as they look into the future to accommodate this growing demand. Nearly 65% of this new supply in the last few years has been in the mid to upscale segments. A large part of the new hotel supply is part of mixed use developments. With land prices rising, this trend of mixed use hotel developments will be the future. The timing could not have been better for investors to explore opportunities to buy existing and under construction hotel assets, both in business as well as leisure segments.”