According to a hospitality consultant, in India the room rates of hotels will stabilize in 2024. They are expected to increase 7-9% over 2023 following sharp increases in 2022 and 23. HVS Anarock In its latest report. Room rates and revenue per room (RevPAR), both of which increased, even though the occupancy rate nationwide remained at 63-65%. It was slightly higher than in 2023 but not yet at pre-Covid rates of occupancy.
Mandeep Lamba, CEO and President (South Asia) of HVS Anarock, said that a year ago the question was whether the bull run we were experiencing would continue into the new financial year. There was concern about a slowdown because of the Indian general elections and the global impact from the U.S. presidential elections. He noted that despite the concerns the Indian hospitality industry continued to perform well with a healthy RevPAR growth of double digits.
The consulting firm has noted major trends, such as spiritual travel, live events, weddings. corporate travel The travel and tourism sector in India was affected. On live events, it said, “Annual spending on concerts and live entertainment was estimated at INR 16-20 billion ($190-236 million), with 25% directed toward hotels and transport—directly benefiting the tourism and hospitality sector.”
Signings are up by a large margin: In 2024, 484 hotels with branded names will be signed. This is up from the 328 hotels in 2023. Over 47,000 keys were signed in 2024, a 62% increase from the 29,000 signed rooms the previous year. “Another important trend for 2024 was the significant increase in the average number of keys per property. This rose from 89 keys to 98 keys. This shift was largely a result of the signing of several large projects,” according to the report.
The report by HVS Anarock highlights the increasing importance of Tier 3 and 4 citiesLast year, 46% of the room signings were in this region. In these areas, 54% were signed by properties.
The number of rooms opened by 200 properties in the past year was also up 8% compared to last year. “Domestic brands continue to dominate the expansion. They account for 76% new openings of properties. This solidifies their position over international hotels chains in the marketplace,” the firm noted.
Airport Lounge Player Travel Food Services Gets IPO Nod
Travel Food Services, a business that operates airport restaurants and lounges, has been approved by the regulator for an IPO of INR 20 billion (US$236 million). The company filed its IPO documents in December of last year.
Travel Food Services operates in 14 airports throughout India, including Delhi Mumbai Bengaluru Hyderabad Chennai Kolkata. The company is also located in three airports of Malaysia. The company offers a variety of food and beverage options for travelers including cafes, bakeries and food courts.
Kapur Family Trust is the sole promoter of this proposed IPO. This means the company won’t receive any money from the issue. Instead, the proceeds of the sale will go to the selling shareholder.
Kerala has the most luxurious hotels in India
Kerala, the southernmost state of India, has the most luxury hotels in India. This is according to data released from the Union Ministry of Tourism. In addition, the state has the highest number of three-star and four-star hotels.
The state has 94 hotels that are five-star, 420 hotels that are four-star, and 607 of them which have three-star ratings. Maharashtra is second with 86 five-star hotels, 36 four-star and 69 3-star properties. Gujarat has 76 five-star luxury hotels. It also has 120 three-star hotels and 61 hotels that are four-stars.
Kerala is a tropical location that is popular with tourists because of its natural beauty, culture and marketing efforts. In the last year, Kerala received a record number of tourists. This is a 21% increase from pre-Covid. The state regulation requiring a minimum of three stars for hotels in order to get a license for a bar is also a major reason for this increase.
Goa Banks Air Connectivity for High-Value Visitors
Goa, which is more than just a summer destination, has been repositioned as a global destination all year long. Rohan Khaunte, the state tourism minister, said at the Arabian Travel Market: “Post-Covid we realized that Goa has immense potential. Goa is a great place for tourists who want to experience a variety of experiences.
He said that the state was able to increase average stay time by diversifying its offerings. “These post pandemic learnings led us to target high-value new markets like the UAE. This is a strategic area for us,” said he.
The state also highlighted expanding air connectivity. Goa has direct flights to Dubai and two international airports. The coastal state expects more visitors from the Gulf.
India is a popular destination for Middle East travelers
According to Wego, an online travel agency, India is the third most popular destination in the Middle East. Egypt and Saudi Arabia are the two most popular destinations in 2025’s first four months, with India ranking third.
India is also witnessing a large expat population, in addition to the Middle East. increase in air connectivity with the region. IndiGo, a budget carrier, has announced new flights to Abu Dhabi. Akasa Air is focusing its first international expansion on this region. Royal Jordanian announced that it would also be starting flights to Delhi and Mumbai.
Star Air Expands Fleet, Network
Star Air, a regional airline in India, has taken delivery of its tenth aircraft – an Embraer E175 jet. The airline plans to purchase four more Embraer E175 aircraft by March next year. It also hopes to have 25 aircraft in its fleet by March of 2027.
The airline has also expanded its network. It announced that it would be adding 15 new sectors to the schedule. This will increase its operations to 50 daily flights across 24 destinations.
Bangkok will host the world’s largest travel trade show.
May 14-15 2025 BANGKOK
