Indian hospitality boom is here
D even demonetisation issues in the recent past, the hospitality industry in India is on a new high. The year-end Hotel Market Review by Horwarth HTL for 2018 revealed that occupancy at all India level touched its highest point for the last 10 years in 2018 while ADR is the highest since 2012. The same trajectory was seen in RevPAR, which reached its 10year high for Mumbai, Hyderabad, Pune and Jaipur. The report revealed that 90,000 rooms are sold per day on an average. Bengaluru emerged as the city with the largest inventory crossing 14,000 while Delhi NCR remained in the league too because of its location and connectivity coverage. This growth can be credited to the growth of budget and midscale hotels across the country. Additionally, MiCE has been a major contributor to the high ADRs. The growth shall continue with positive amendments to CRZ guidelines and the tax structure; and we shall see this segment shining like never before.