Robust pipeline for MiCE venues
As per 'India Hospitality Industry Review 2018' by HVS ANAROCK, 2019 will see 105 new branded hotel openings
The report claims that domestic operators opened 65 hotels of the total 134 openings in 2018, which represents nearly half of all the openings. In terms of key counts, domestic operators represented only 32 per cent of the total 7,215 keys. The importance of a brand tie-up in a highly digitalised economy is continuing to become important. Rebranding, once again, is at the centre of new openings in 2018.
Commenting on the report, Mandeep Lamba, President (South Asia), HVS ANAROCK, says, “The Indian hospitality sector is finally seeing a steady revival in its performance over the last two years with RevPAR having grown 17 per cent over a two-year period. The first quarter of the current year has witnessed significant growth exceeding all expectations, and at HVS ANAROCK we are confident that the industry will witness a 9.5 per cent further growth in RevPAR in 2019. With successful transactions of The Leela Hotels and Keys portfolios in the first quarter of 2019, our study predicts that the year will witness the largest transaction volumes, expected to reach $800 million, which is well on its way to becoming a reality, albeit with an even larger number. All this augurs well for the industry and brings renewed excitement to investors and stakeholders.”
We are confident the industry will witness a 9.5% further RevPAR growth in 2019