Hotel room rates in India have been trending at an all-time high and are expected to close the year at a peak, driven by a boom in domestic tourism, a record number of weddings in November and December, and a surge in extended weekend vacations.
As a result, India's hospitality industry has seen its average daily rate (ADR) reach its highest level in 2024. Last December recorded the highest ADR of the year, and Hotelivate, a hospitality consulting firm, expects this to be the case again in 2024.
Manav Thadani, founder and chairman of Hotelivate, told Business Standard that hotel room rates this year have trended upward due to demand-supply dynamics. With no appreciable growth in supply this year, hotels have continued to improve their ADR.
"Understandably, the growth in ADR this year is moderate compared to the strong growth last year, driven by major events," Thadani said.
Denne historien er fra December 19, 2024-utgaven av Business Standard.
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Denne historien er fra December 19, 2024-utgaven av Business Standard.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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