While hotels were able to attract more guests last year, it might be a challenge for their occupancy rates to keep pace with their rapid addition of rooms
Kiran Andicot, regional vice president, South Asia for hotel development at Marriott International said the chain opened 12 hotels, totalling 1,431 rooms, in India last year. Andicot said the numbers for India could be in the same range as in 2023. Jaideep Dang, MD, hotels and hospitality group at JLL, said 2023 was the best year ever in terms of hotel openings.
Rents at Leela Palaces Hotels & Resorts properties in Delhi, Jaipur and Udaipur are at record highs, a company spokesperson said. The Leela Palace Udaipur, which has no rooms available for December 31, was charging about ₹1,06,200 for a night s stay on Christmas on Booking.com previously.
After a 2018 public auction by the New Delhi Municipal Council (NDMC), Indian Hotels Company Limited (IHCL), backed by Tata Group, successfully retained ownership of Taj Mahal hotel, colloquially known as Taj Mansingh. IHCL invested nearly Rs 250 crore in the extensive renovation of the property. Despite higher lease rentals, the renovated hotel has restored previous levels of revenue and profits. The revamped Taj Mahal hotel features themed suites, luxury apartments, upgraded dining areas, and enhanced wellness facilities, aligning with evolving customer preferences.