The Jujhar Group has expanded its operations to enter the buoyant Indian hospitality sector by completing the acquisition of the Fairfield by Marriott hotel in Amritsar.
The purchase of this almost five year old property was done directly from Fairfield Marriott ASR. The luxury property, comprising over 130 rooms is one of the most preferred hotels for both business and leisure travellers in Amritsar due to its prime location. The property is located within a convenient distance from the airport, the railway station as well as important landmarks such as the Golden Temple, Jallianwala Bagh and the Wagah Border.
The purchase comes at a time when the Indian hospitality industry is steadily recovering from the Covid-19 pandemic, with the lifting of travel restrictions and mass-vaccinations helping tourist numbers return to pre-pandemic levels. Having emerged as one of the key drivers for growth among the services sector, the hospitality industry in India is expected to grow rapidly over the next five years, and is projected to reach $125 billion by FY27.
