Average Room Rates News Today

Pilgrimage tourism surge reshapes travel trends, driven by spiritual exploration, demographic shifts, and economic growth projections.

Retail collections rose 30% to Rs 700 crore, while rental income from retail grew 33% to Rs 447 crore. Operating profit in retail business increased 27% to over Rs 435 crore. The companys malls are operating at life-time high leased occupancy and trading levels.

Brand TD speaks with Erwin van der Veen, Cluster General Manager SALA Samui Choengmon Beach Resort and SALA Samui Chaweng Beach Resort

Total standalone income during the quarter under review grew to Rs 95.42 crore, from Rs 91.06 crore registered in the same period of last year.

In general, vacationing trends are going through a structural shift. The focus is now more on experience.

The average daily rate (ADR), a key metric used by hoteliers to measure room revenue, from 7-11 September surged to ₹26,000, a more than fourfold increase from the average ₹6,000 in the past year.

Foreign institutional investors (FII) sold shares worth Rs 1,901.10 crore, whereas domestic institutional investors (DII) purchased Rs 626.25 crore worth of stocks on August 21, provisional data from the National Stock Exchange (NSE) showed.

In 1Q, Indian hotels sector continued to witness healthy YoY growth in RevPAR though it declined QoQ due to seasonality. According to Jefferies managements are confident on ongoing rate upcycle lasting for next few years and also expect FY24 RevPAR growth at double digit.

Consistent improvement in consumer sentiments despite the inflationary environment, stable corporate performance, and domestic air passenger traffic inching above pre-covid levels augur well for travel and hotel demand.

With a relatively limited hotel supply in bigger Indian cities, the demand for hotels is fast outpacing supply