The ongoing premiumization in the mid-market hotels space boosted Lemon Tree's consolidated average room rate (ARR) by 12% year-on-year to ₹5,902 in the September quarter (Q2FY25), aiding revenue per available room, or Rev PAR-a key measure of a hotel's performance.
Meaningful ARR contribution came from Aurika Mumbai Skycity, the newest premium property in Lemon Tree's portfolio. Aurika Mumbai, India's largest hotel by room count (699 rooms), began operations in the October-December quarter of 2023-24 and has yet to scale up completely. This contributed to Lemon Tree's lower occupancy in the latest second quarter at 68.4%, down about 330 basis points year-on-year.
Denne historien er fra November 22, 2024-utgaven av Mint Mumbai.
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Denne historien er fra November 22, 2024-utgaven av Mint Mumbai.
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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