Jones Lang LaSalle to start India operations in Q3

New Delhi: Jones Lang LaSalle Hotels is entering the Indian market to offer its hotel investment services in an equal stakes joint venture with the real estate services and money management firm Jones Lang LaSalle Meghraj.

Jones Lang LaSalle Hotels provides services such as investment sales, acquisition services, valuations, financing, asset management, development services to global hotel chains and investors.

Jones Lang LaSalle Hotels has strong relationships with global hotel operators, many of which are looking to enter or expand footprint in the Indian market officials said company officials of the real estate firm.

The hotel industry in India has sustained its growth momentum. According to a latest report by Jones Lang LaSalle, the room demand grew by 5.3 per cent in 2006 as opposed to supply, which grew by 4.9 per cent.

Thus the occupancy rates improved from 72.1 per cent to 72.4 per cent during the same period. Bullish on the hospitality sector in the country, a host of real estate companies have charted out plans to foray into the sector.