Omaxe Group has announced the launch of ‘The Omaxe State,’ an integrated destination featuring sports, retail, hospitality, food, and cultural facilities. The project, covering 50.4 acres in Dwarka Sector 19-B, New Delhi, is developed in collaboration with the Delhi Development Authority (DDA) under a public-private partnership model, with an investment exceeding ₹2,500 crore.

Features of The Omaxe State

The Omaxe State will include a modern ICC and FIFA-standard cricket-cum-football stadium with a seating capacity of over 30,000 and an indoor multi-sports stadium accommodating 2,000 spectators. The project aims to bring major sporting events back to Delhi and is designed to be a comprehensive venue for various activities.

Comparison to Global Venues

The project draws inspiration from international landmarks such as Queen Elizabeth Olympic Park in London, Accor Arena in Paris, Singapore Sports Hub, and Melbourne Olympic Park. It seeks to transform the sporting and leisure landscape in India, offering a mix of sports, shopping, dining, and entertainment.

Distinctive Features

The Omaxe State will feature five districts: The Sports District, The Shopping District, The Hospitality District, The Food District, and The Social District. The Food District will be the largest of its kind in India, spanning over 500,000 square feet and including various dining options. Additionally, the project will feature India’s first air-conditioned high-street retail area, with 4.2 km of shop fronts and extensive ground-floor retail space.

Other Facilities

The development will include an invite-only sports and leisure club, a 75,000 sq. ft. e-sports arena, and a hotel with 148 rooms. Other amenities include banquet facilities, an event arena, an Olympic-sized swimming pool, and sports facilities for tennis, badminton, squash, basketball, and football.

Also Read: MHADA Reduces Prices for Homes in Mumbai Lottery

Strategic Location and Future Prospects

Located in Sector 19B of Dwarka, the project is close to major attractions like Yashobhoomi, IGI Airport, Bharat Vandana Park, and the upcoming diplomatic enclave. It is also accessible via the Metrolite light rail system. The project, which is expected to be completed by 2027, is projected to generate over ₹4,200 crore in revenue over its lifecycle.

Official Statement

Mohit Goel, Managing Director of Omaxe Group, stated, “With ‘The Omaxe State,’ we aim to provide Delhiites with a high-standard venue for sports, shopping, and entertainment. This development will fill a significant gap in Delhi’s infrastructure and contribute to the city’s growth.”

Project Scope and Development

The Omaxe State will feature modern amenities, including multiple entrances, car drop-offs, over 2,200 ECS, and additional parking with room for future expansion. Developed with input from 24 global consultants, the project is set to establish new standards in urban development.

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The Indian hospitality sector continued to witness Year-on-Year (Y-o-Y) growth in performance in Q1 2024 (January-March), primarily driven by a significant rise in Average Daily Rate (ADR) of 8.5% over Q1 2023, resulting in a RevPAR growth of 11.4%. Major factors contributing to this growth included an increase in corporate travel, weddings, and Meetings, Incentives, Conferences and Exhibitions (MICE) demand at the end of the financial year (FY24). The sector also noted a RevPAR growth of 5.5% Quarter-on-Quarter (Q-O-Q) in Q1 2024, compared to Q4 2023. This can be attributed to higher levels of corporate travel in Q1 2024 as opposed to Q4 2023 (October-December), which typically sees a decrease during the holiday season, according to JLL’s Hotel Momentum India (HMI) Q1, 2024. During the quarter, there was a robust demand for hotel rooms in both business and leisure destinations. The occupancy levels in key business markets were strong, averaging around 70%, and supported by significant growth in Average Daily Occupancy levels.

Source: STR

The positive momentum from the first quarter is expected to continue into the second quarter, with business travel, MICE, and weddings driving the busy season. Additionally, the following quarter will also see a surge in leisure travel, particularly during the summer holidays.

In Q1 2024, there were 90 branded hotel signings comprising 9,710 rooms. Furthermore, 13 hotels signed were conversions of other hotels, accounting for 12% of the inventory signed in Q1 2024. Branded hotel openings comprised 36 hotels with 2,316 keys, of which 75% of the total number of keys were in *Tier II and III cities, including Jaipur, Indore, Surat, and Ayodhya, to name a few.

Chennai emerged as the RevPAR growth leader in Q1 2024 registering a growth of 21.7% over Q1 2023, followed by Hyderabad and Delhi with Y-o-Y growth of 21.1% and 19% respectively.

“The first quarter has set the ball rolling for the hotel sector’s strong performance throughout 2024 – healthy consumer sentiments and domestic corporate travel will continue to be the key drivers. Key business and leisure locations are witnessing strong demand, which has translated to growth in Average Daily Rate (ADR) levels, assisted by limited supply additions. Broadly, the demand parameters are in line for the upwardly stable performance of the sector through 2024. The only blip could be the later part of summer, as that period may have increased outbound travel and perhaps a little lull after the general election results”, said Jaideep Dang, Managing Director, Hotels and Hospitality Group, India, JLL.

Also Read: India’s hospitality sector witnessed USD 401 million investment activity in FY23

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JLL India, the country’s largest consultancy firm today released its latest report titled ‘Hotel Investment Trends – India 2023,‘ highlighting the growth and positive start of the first quarter (Jan-March) of 2024 in the hospitality sector. The report mentions that the first quarter of 2024 witnessed a significant 80% Year-on-Year increase in hotel transaction volumes, reaching USD 78 million.

The sector has been witnessing good surge since last calendar year (2023). A record number of hotel signings and openings took place in 2023, with 25,176 keys signed and 12,647 keys opened. There is an increasing interest in hotel development activity in Tier-2 cities, with 54% of the total signings taking place in these locations.

In 2023, Hotel Investments in India touched USD 401 million which was nearly four-fold the volumes witnessed in 2022. 25% of the overall value of transactions involved under-construction hotels in both business and leisure destinations. 2023 also achieved a significant milestone of 22 hotel transactions, which is the largest number of assets traded in the last decade. It also saw three hotel companies successfully debuting on the stock market through their Initial Public Offerings (IPOs). There were greenfield projects, totaling approximately 13,600 keys in 2023, surpassed the figure from the previous year (8,000 keys), showcasing the enduring confidence of hotel developers in the long-term growth potential of the sector. Furthermore, the report notes, the emergence of tourism and leisure destinations as centers for Meetings, Incentives, Conferences, and Exhibitions (MICE) activities, with the signing of three large-format hotels with a total of approximately 900 keys.

“The year 2023 has been a record year not only in terms of hotel investments but also in terms of new branded hotel openings and signings. Furthermore, 2024 has started with strong tail winds as we saw prominent hotel deals early on in this year. The enthusiasm of the sector is further strengthened by performance of hotel stocks, which also gave confidence to a couple more hotel companies entering public markets and achieving strong valuations. We expect this story to continue in 2024 on back of diversified avenues of growth such as expanding commercial office markets and with development of infrastructure such as new airports, expressways, increasing pilgrimage travel leading to the emergence of new realty & tourism hotspots across the country”, stated Jaideep Dang, Managing Director, Hotels and Hospitality Group, India, JLL.

Key highlights of the report are as below:

• High Net Worth Individuals (HNIs) and Institutional Capital played a major role in hotel investments activity during 2023, accounting for the largest share at 31%. 
• Real estate developers accounted for 27% of investments, followed by owner-operators at 11%.
• The upper upscale segment saw the highest number of keys changing hands, followed by the upscale, luxury, and midscale segments.
• There were five transactions facilitated through the insolvency resolution process under the National Company Law Tribunal (NCLT), representing 33% of the total value of transactions in 2023, which amounts to USD 133 million.

While management contracts continue to dominate the majority of signings, representing 78% of the total number of keys, there has been a notable increase in lease and revenue share models across different tiers, comprising 4% of the total keys signed. The robust performance of the commercial sector has directly benefited major urban centers, as Tier 1 cities experienced the highest number of keys signed since 2020, with a notable increase of 31% as compared to 2022.

Also Read: India’s hospitality sector witnessed 15.8% year-on-year RevPAR growth in Q4, 2023

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·                Q4 2023 witnessed the opening of 59 new hotels, comprising 4,175 keys, of which more than 70% were in tier II and tier III cities.

·                In Q4 2023, 15 hotels were signed as conversions of other hotels, constituting 14% of the total signed inventory.

The Indian hospitality sector continued to experience year-on-year growth in performance in Q4 2023, driven primarily by a substantial increase in the Average Daily Rate (ADR) of 14.6%, compared to Q4 2022. This led to a RevPAR growth of 15.8%. The fourth quarter saw consistent growth in ADR due to factors such as weddings, corporate and social MICE events, leisure travel, and year-end festivities. According to JLL’s Hotel Momentum India (HMI) Q4 2023 report, the sector witnessed a significant growth of 31% in RevPAR in Q4 2023, compared to Q3 2023.

Amid stable occupancy levels, the six markets have demonstrated strong ADR performance, benefiting from sustained corporate demand and international events such as the ICC Cricket World Cup, as well as the wedding season. Hyderabad led in terms of ADR growth with 24.7%, followed by Delhi and Mumbai at 20.3% and 16%, respectively.

The momentum from the last quarter is expected to carry into 2024, supported by the wedding industry, corporate and social MICE demand, and the growing significance of niche tourism categories like religious tourism. Business travel is also anticipated to rebound by the end of the first quarter of 2024 as companies hold their year-end meetings. The industry shall remain robust, driven by ADR growth, strong domestic demand fuelled by higher disposable incomes, and targeted government initiatives.

In Q4 2023, a total of 82 hotels comprising 8,741 keys were signed. Among these, 15 hotels were conversions of existing properties, accounting for 14% of the total signed inventory in Q4 2023.

Source: STR

Bengaluru emerged as the leader in RevPAR growth in Q4 2023, achieving a substantial 31.9% growth compared to Q4 2022. Delhi and Hyderabad followed closely with year-on-year growth rates of 26.3% and 23.5%, respectively.

“As 2023 ends on a high note, the hotels industry is at the precipice of a fundamental shift in its growth trajectory. With the rising relevance of key trends such as pilgrimage tourism, airport and complementary developments, and infrastructural upgrades, we are witnessing an increased interest from hotel developers and investors who wish to participate in this growth story. We expect the sector to continue witnessing strong ADR levels on the back of softening of supply pressure, rising disposable incomes and increased air connectivity”, said Jaideep Dang, Managing Director, Hotels and Hospitality Group, India, JLL.

Also Read: REAL ESTATE SECTOR’S EXPECTATIONS FROM INTERIM BUDGET 2024-25

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The challenge of captivating and keeping guests is a constant in the constantly changing hospitality sector. In the course of this endeavour, a tactic that is becoming more and more well-liked is using art installations and exhibitions to draw in and involve visitors. The integration of art and hospitality has initiated a discussion regarding the efficacy of these imaginative exhibits in drawing and holding the attention of visitors.

The Artistic Allure
Art has a special power to stir feelings, start discussions, and produce unforgettable moments. Using art is a potent tool in the hospitality industry, creating moments that guests will never forget. Art installations and exhibitions provide a visceral experience that goes beyond conventional ideas of hospitality, converting areas into lively, immersive settings.

Gratification and Interaction
Attracting guests is one of the main goals of adding art to hospitality spaces. A powerful art installation has the power to attract people looking for unusual and fulfilling experiences. Spaces can become more interesting and welcoming when art is able to create an emotional connection. These artistic features, which can range from eye-catching sculptures in hotel lobbies to carefully chosen galleries inside resorts, frequently act as focal points, drawing in interested visitors and urging them to continue exploring.

Art installations encourage participation in addition to attraction. Visitors take on a role beyond that of spectators as they engage with the artwork and become fully immersed in its story. This interaction improves the overall visitor experience by making a lasting impression and encouraging a feeling of connection to the area.

Maintaining Visitors with Experiences
The loyalty and contentment of its clients are vital to the hospitality sector. By providing a unique and memorable experience, art installations and exhibitions greatly increase visitor satisfaction. An art installation that has been thoughtfully chosen can spark conversation and encourage visitors to post about their experiences on social media and in-person, expanding the establishment’s audience and visibility.

Additionally, the presence of art makes visitors stay longer and is likely to result in repeat business. These installations’ emotional resonance frequently makes people want to relive the event, which can have an impact on their decision to make future reservations.

Difficulties and Things to Consider
The incorporation of art into hospitality spaces can bring about transformations, but there are drawbacks as well. Finding a fine balance between curating art that speaks to a variety of audiences and the establishment’s brand identity is necessary. Furthermore, hospitality providers face continuous challenges related to upkeep, preservation, and the dynamic nature of artistic preferences.

Additionally, depending on cultural backgrounds, individual preferences, and the particular objectives of the establishment, art’s ability to draw in and keep visitors may differ. Using art as an engaging tool for guest engagement requires a thorough understanding of the target audience and their expectations.

In the hospitality sector, art installations and exhibitions have become a potent tactic that provide a unique means of drawing in and keeping customers. Art is more than just décor; it changes environments, produces immersive experiences, and strengthens emotional bonds. These creative components, when well chosen and incorporated, greatly increase customer satisfaction, encourage repeat business, and distinguish establishments in a crowded market.

Notwithstanding these obstacles, there is no denying the appeal of art in hospitality. The combination of art and hospitality will probably continue to be a powerful tool for drawing in and keeping customers, strengthening the bonds between businesses, and profoundly improving visitor experiences as long as they keep getting creative and looking for new and exciting ways to make their establishments unforgettable.

Sonia Arora Sood is the Founder and Creative Director of Karabi Art Community.

Also Read: The hospitality sector witnessed 15.1% YoY RevPAR growth in Q3, 2023

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·      Q3 2023 witnessed the opening of 34 new hotels comprising 2,383 keys of which more than 80% were located in Tier II and Tier III cities

·      12 hotels signed in Q3 2023 were conversions of other hotels, which constituted 23% of the inventory signed

The Indian hospitality sector continued to witness Year-on-Year (Y-o-Y) growth in performance in Q3 2023, primarily driven by the significant rise in Average Daily Rate (ADR) of 15.6% over Q3 2022 resulting in a RevPAR growth of 15.1%. The third quarter witnessed strong growth in ADR due to multiple international events being held in key cities. The sector witnessed a marginal decline of 4.5% in RevPAR in Q3 2023, as compared to Q2 2023, according to JLL’s Hotel Momentum India (HMI) Q3, 2023.

The six markets (Bengaluru, Chennai, Delhi, Goa, Hyderabad, and Mumbai) continue to display strong growth driven by ADR on the back of sustained demand from corporate travel. International events such as the G20 Summit also contributed to ADR growth in major cities. Delhi leads with a 36% growth in ADR, followed by Hyderabad (22.2%) and Mumbai (16.7%). Apart from the marginal drop in Bengaluru and Goa’s occupancy levels, the rest of the markets have remained fairly stable in Q3 2023 as compared to Q3 2022.

The last quarter of the year is expected to remain strong on the back of international events such as the Cricket World Cup and domestic travel amidst winter vacation and year end festivities. Weddings and Meetings, Incentives, Conferences, and Exhibitions (MICE) will remain the major demand drivers in the coming months. However, we expect business travel registering a dip towards the year end. Several hotel openings have been slotted for the quarter and development activity is expected to pick up in the last quarter. 59 hotels comprising 4,669 keys were signed in Q3 2023. There were 12 hotels signed that were conversions of other hotels. Conversions constituted 23% of the inventory signed in Q3 2023.

Source: STR

Delhi emerged as the RevPAR growth leader in Q3 2023 registering a growth of 36.6% over Q3 2022, followed by Hyderabad and Mumbai with y-o-y growth of 20.5% and 18.5% respectively.

“As witnessed in Q3 2023, the hotels sector continues to display strong growth in performance, which is majorly driven by growth in ADRs. This trend is expected to continue into the year end on the back of weddings and winter holidays. Hotel development activity will continue to grow, in terms of both hotel openings and new hotel signings. However, we anticipate that this growth in ADR will level out over the next year or so owing to the dynamic geo-political scenario that may impact demand to some extent”, said Jaideep Dang, Managing Director, Hotels and Hospitality Group, India, JLL.

Also Read: Hospitality sector witnessed 15.4% YoY RevPAR growth in Q2, 2023

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The hospitality sector continued to witness strong Year-on-Year (Y-o-Y) growth in performance in Q4 2022 (Oct-Dec), primarily driven by corporate travel, weddings, winter vacations and festivities. The year ended with a 90% Y-o-Y growth in RevPAR for the calendar year 2022 over 2021. The performance in Q4 2021 was strong as well on the back of weddings and domestic leisure travel, however corporate travel was only a fraction of what has been witnessed in Q4 2022. As a result, RevPAR growth of 60.9% Y-o-Y from Q4 2022 over Q4 2021 seems significant. Furthermore, the sector witnessed a RevPAR growth of 30.1% Q-o-Q between Q4 2022 and Q3 2022. This is due to higher levels of corporate travel in Q4 2022 compared to Q3 2022, according to JLL’s latest Hotel Momentum India (HMI) Q4, 2022. 

The hotel room demand across both business and leisure destinations remained strong during the quarter primarily driven by Meetings, Incentives, Conferences and Exhibitions (MICE), weddings and other business-related travel. Despite the year-end holidays, most business cities performed well with occupancy levels circa 65% and witnessed a strong growth in the Average Daily Occupancy (ADR) levels. The momentum of Q4 2022 is expected to continue in Q1 2023 remaining busy on the back of weddings, and recommencement of business travel post the year-end holidays. Business travel is expected to grow during Q1 2023 on the back of domestic corporate travel related to critical decisions prior to closure of the financial year.

A total of 81 hotels comprising 6,663 keys were signed in Q4 2022. Additionally, there were 25 hotels signed that were conversions of other hotels. The conversions constituted 27% of the inventory signed in Q4 2022.

Source: STR

All six key markets witnessed strong growth in RevPAR levels in Q4 2022 compared to Q4 2021, due to a comparable low corporate travel base of last year. Bengaluru emerged as the RevPAR growth leader in Q4 2022 with 110.6% growth over Q4 2021, followed by Mumbai and Delhi with a YoY growth of 105.3% and 94.3% respectively.

“Hotel room-night demand growth remained strong in Q4 2022 across major business and leisure destinations. Given the looming global head winds, inbound travel may witness a slowdown. However, domestic economic fundamentals remain strong and is expected to keep the domestic business environment stable. Additionally, a significant increase in hotel investment and related activities was witnessed towards the later part of last year. This momentum is expected to continue in 2023.” said Jaideep Dang, Managing Director, Hotels and Hospitality Group, India, JLL.

Also Read: Hospitality sector witnessed an 89.6% YoY growth in Q3

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The Indian hospitality sector continued to witness strong Year-on-Year (Y-o-Y) growth in performance in Q3, 2022, primarily driven by corporate travel. Last year during the same quarter, the country was struggling to recover from the brutal second wave of the pandemic, which had a significant impact on the performance of the sector. As a result, RevPAR growth of 89.6% Y-o-Y from Q3, 2022 over Q3 2021 seems significant. However, as compared to Q2 2022, the sector witnessed a marginal dip of 3.8% in RevPAR in Q3 2022. This is due to reduced corporate travel amidst long weekends and festivals, according to JLL’s Hotel Momentum India (HMI) Q3, 2022.

The hotel room demand across business cities remained strong during the quarter primarily driven by Meetings, Incentives, Conferences and Exhibitions (MICE) and other business-related travel. Despite long weekends, most business cities performed well with occupancy levels circa 70% and also witnessed strong growth in Average Daily Occupancy (ADR) levels.

The last quarter of the year is expected to remain busy on the back of weddings, domestic leisure as winter vacation sets in. Meanwhile, business travel will continue to remain strong through the end of the year.

54 hotels comprising 4,282 keys were signed in Q3 2022. The hotel signings witnessed a significant increase of 63.2% as compared to signings in Q3 2021. International operators dominated signings over Domestic operators with a 53:47 ratio in terms of inventory volume

All six key markets witnessed strong growth in RevPAR levels in Q3 2022 as compared to Q3 2021, due to the comparable low base of last year amidst travel restrictions post the second wave of the pandemic. Bengaluru emerged as the RevPAR growth leader in Q3 2022 registering a growth of 241.4% over Q3 2021, followed by Hyderabad and Chennai with Y-o-Y growth of 140.9% and 123.6% respectively.

“Demand growth continues to remain strong in Q3 2022. Hotels across major business and leisure destinations are performing either at par or higher than pre-covid RevPAR levels. This stellar recovery has renewed confidence in the sector resulting in increased development and investment activity. We believe this momentum to continue through the year-end. Furthermore, we expect the hotel investment climate to remain buoyant in 2023 as hotel performances further strengthen” said Jaideep Dang, Managing Director, Hotels and Hospitality Group, India, JLL.

Also Read: Indian hospitality sector witnessed a 339.3% YoY growth in Q2

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By Varun Singh

The Indian hospitality sector witnessed strong growth in Q2 (April – June) 2022, primarily driven by demand for weddings and events as well as stellar recovery of corporate travel. The country was amidst the second wave of the pandemic in Q2 2021, which had a significant impact on the performance of the hospitality sector. As a result, Revenue Per Available Room (RevPAR) witnessed an exponential growth of 339.3 % year-on-year (YoY) in Q2, 2022 over Q2 2021 Furthermore, the sector witnessed a stellar 44.6% growth at a pan-India level in RevPAR compared to Q1 2022 wherein the sector was still emerging from the third wave of the pandemic, according to JLL’s Hotel Momentum India (HMI) Q2, 2022.

The demand across the sector soared during Q2 2022 primarily driven by weddings and Meetings, Incentives, Conferences and Exhibitions (MICE), and Business travel. Furthermore, corporate MICE demand also witnessed a recovery in the form of corporate off-sites, team meetings, training, and so on. Domestic leisure continued to be an important segment during this period driven by the pent-up demand of travelers who had not experienced a summer vacation for the past two years.

The next two quarters are expected to remain busy on the back of domestic leisure amidst long weekends and festivals. Business travel will continue to grow and will remain the main demand driver for the sector. Whilst wedding and social function demand will continue to be an important driver. MICE demand is expected to witness an uptick in the coming months with many corporate meetings and large format conferences being planned.

The total number of hotel signings in Q2 2022 stood at 47 hotels with 4,010 keys. The hotel signings witnessed a significant increase of 90.9% as compared to signings in Q2 2021. Domestic operators dominated signings over international operators with a ratio of 52:48 in terms of inventory volume.

All six key markets witnessed exponential growth in RevPAR levels in Q2 2022 as compared to Q2 2021, due to the low base witnessed last year during the second wave of the pandemic coupled with the stellar performance of the sector this year. Bengaluru emerged as the RevPAR growth leader in Q2 2022 registering a growth of 660.1% over Q2 2021, followed by Goa and Hyderabad with y-o-y growth of 564.5% and 326% respectively.

“With exponential growth across all performance indicators in business and leisure destinations, Q2 2022 marks the revival of investor interest and stakeholder profitability in the hotel industry. As business travel and corporate off-sites continued to grow, summer holidays offered a further impetus to the overall demand resulting in a renewed confidence in the sector. We expect this momentum to continue over the next few quarters on the back of long weekends, festivals, weddings, events, and business travel evenly contributing to this growth story” said Jaideep Dang, Managing Director, Hotels and Hospitality Group, South Asia, JLL.

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