Hotels are going fully booked at the end of the year despite foreign tourist arrivals still remaining below pre-Covid levels.
"With most markets continuing to record strong occupancies and amid average daily rate (ADR) growth, we do not expect too much pressure to be exerted by new supply," said Manav Thadani, founder and chairman, Hotelivate, a hotel consulting firm.
He added, "As a result, hotels should be expected to continue their strong performance and record ADR growth of over 7-8 per cent in 2025."
Corroborating Thadani's estimates, Nishant Pitti, chief executive officer (CEO) and co-founder, EaseMyTrip, said he expects India's hotel room rates to continue their upward trajectory in 2025. It would be driven by the dynamic interplay of rising demand across luxury, midscale, and budget segments.
"The luxury segment, particularly in iconic destinations like Goa, Jaipur, and Udaipur, will likely maintain high average room rates as affluent domestic and international travellers seek premium experiences," Pitti added.
This story is from the December 23, 2024 edition of Business Standard.
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This story is from the December 23, 2024 edition of Business Standard.
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