A Much Awaited Up- Cycle of the Indian Hospitality Industry is Here. HVS South Asia Releases Its Annual Trends

2024-11-07 02:29:12 News & Society

1025

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 existing and future opportunities in the hospitality industry of specific interest to investors, developers and hotel operators.

The 2016 edition of the Trends & Opportunities report raises a toast to the first year of a much awaited up-cycle. As most hotel markets across the country achieved significant growth in overall operating performance over the previous fiscal, a particularly noteworthy trend is the increase in Average Daily Rate (ADR) after four years of consecutive decline.

Achin Khanna, Managing Director, Consulting & Valuation, HVS South Asia says ?the Indian Hotel Industry is already in the first year of a much awaited up-cycle. Exciting times are ahead and our Trends & Opportunity report has clinically analysed the prospects for the future. We hope that industry stakeholders will jointly capitalize on the bull-run over the next few years.

The report that has been released today analyses the year gone by, with the hope 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 likely to further strengthen in year 2016/17. There is a difference between ?being cautious? and ?being scared? and while most hotel operators in the country attribute lower rates as being cautious, HVS is of the opinion that with the onset of the up-cycle, a rate-driven strategy is the need of the hour. Indeed, it is now time to raise the BAR!

Global:
Mansi Bhatnagar
Mobile: +91 98112 10293
Email: mbhatnagar@hvs.com; marketing@hvs.com

Asia, Middle East & Europe:
Debjani Dhara
Mobile: + 91 98735 87773
Email: ddhara@hvs.com

About HVS

HVS, the world?s leading consulting and services organization focused on the hotel, mixed-use, shared ownership, gaming, and leisure industries, celebrated its 35th anniversary in 2015. Established in 1980, the company performs 4,500+ assignments each year for hotel and real estate owners, operators, and developers worldwide. HVS principals are regarded as the leading experts in their respective regions of the globe. Through a network of more than 40 offices and more than 350 professionals, HVS provides an unparalleled range of complementary services for the hospitality industry. HVS.com

Superior Results through Unrivalled Hospitality Intelligence. Everywhere