In an unprecedented development, a significant number of high-value hotels and hospitality properties in Srinagar and other major tourist destinations across Jammu & Kashmir have been listed for sale, sparking alarm within the region’s tourism industry. The listings, which emerged over the past week, highlight growing concerns about the financial sustainability of the hospitality sector despite a year of record-breaking tourist arrivals.
At least seven premium hotels and guesthouses in prime areas like Boulevard Road, Nishat, Rajbagh, Sonwar, Wazir Bagh, and Sonmarg have quietly entered the market. Properties range from luxury lakeside estates with swimming pools and expansive lawns to urban hotels equipped with cinemas and gyms. Among the notable listings are a 6-kanal estate near Dal Lake priced at ₹95 crore, a 35-room hotel in Rajbagh listed for ₹85 crore, and a lakeside property in Nishat priced at ₹30 crore.
Industry stakeholders cite high operating costs, low off-season occupancy, and regulatory uncertainties as primary factors driving these sales. “This level of distress sales was unheard of even during the insurgency,” said a veteran tourism professional.
While some view the situation as a sign of financial stress, others, like property dealer Nazeer Ahmed Khan, argue it reflects normal market dynamics. “These are high-income properties with great business potential,” he said. However, questions remain about the availability of buyers willing to invest in Kashmir’s uncertain hospitality market.
Experts warn that without fiscal relief and stable policies, the trend could escalate, potentially impacting investor confidence in the region’s tourism-driven economy.
Source: Ziraat Times
