The overall hotel performance has been phenomenal, said India Hotel Market Review

Horwath HTL, a leading global hospitality consultant, in its year-end report called 2022 a dream year for the Indian hospitality industry. the report said that the overall hotel performance has been phenomenal, despite Occupancy not breaking the pre-pandemic level the RevPar is the same as pre-pandemic. it also added that The drag is due to budget to economy hotels not performing well and cities where the market has IT dominance. Leisure hotels demonstrated they can perform very well as technically there is no cap to the ADR.

The report also mentioned about Key performance points:

All India Occupancy at 59.8% with an ADR of Rs. 6.1k; near complete RevPAR recovery on all India level compared to 2019; The performance is even better in the upscale to luxury segment.

Leisure destinations leading in terms of ADRs, much higher compared to business cities, although seasonality prevails; overall RevPAR is led by Udaipur, Goa and Mumbai in that order. ADR for Udaipur was 13,000, followed by Goa at around 10,000 and Mumbai at around 9,000

Five markets – Mumbai, Delhi, Goa, Udaipur, and Jaipur, having 27% supply share have delivered 37% of room revenue earned in India in 2022

Rise in wedding spending and social events, while MICE remained soft during the year, it is expected to grow in 2023.

Promising Markets: North East, Kevadia (Statue of Unity), Varanasi (Uttar Pradesh)


Read Previous

Sterling Holiday Resorts announces YoY growth of over 60%

Read Next

The Westin Gurgaon, New Delhi Launches An All-New Rooftop Lounge, The Sunset Story

Leave a Reply

Your email address will not be published. Required fields are marked *

Most Popular

Download Our Magazine