One in almost every five hotels signed in 2020 was a converted hotel

According to JLL, hotel conversions in India had seen a consistent increase, nearly doubling from 33 conversions in 2016 to 65 in 2019. However, the conversions plummeted to just 29 hotels in 2020 under the impact of the pandemic. The uncertainty in the market made existing or committed hotel owners adopt a cautious approach than take conclusive investment decisions.