The season's first rainfall. A child's first words. Your very first pay check. Beginnings are a cherished feeling! Why should it be any different in the world of hotels?
As HVS celebrates the beginning of its third decade of operations in India, the Indian Hospitality Sector raises a toast to the first year of a much awaited up-cycle. This year's Trends & Opportunities report bears witness to an appreciable increase in nationwide occupancy coupled with a nominal growth in average daily rate (ADR). As markets across most Indian cities Trumped (pun unintended) the previous year's performance, particularly noteworthy is the trend that ADRs increased after four years of consecutive decline, albeit marginally.
Here we bring to you a detailed analysis of the year gone by, and the hope is that India's hotel industry stakeholders shall draw inspiration from their own recent performance and tread a path that continues to augment their Best Available Rate (BAR) offering, especially in light of the fact that occupancies are more than likely to further strengthen this year. Indeed, it is now time to raise the BAR!
For over two decades, HVS has collated data related to the hotel performance of the country through the annual Trends & Opportunities Survey. This report discusses the key hospitality trends as well as our outlook for the future, highlighting 13 major Indian markets. It further presents opportunities in the hospitality industry of specific interest to investors, developers and hotel operators.
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