Hotel sector REVPaR continues to trend higher than pre Covid levels
News: As per HVS Anarock, April 2023 has been a strong month for the hotel industry. RevPAR for the industry was Rs 4536, which is higher by 23% from pre-Covid level (April 2019) and up ~19% on YoY basis. For April 2023, industry ARR was at Rs7200, which was up 20% YoY while occupancy remained flat YoY at 63%
Views: The domestic business is expected to be healthy in FY24, driven by major events such as the G20 meetings and the ICC ODI World Cup cricket. With occupancy levels at hotels in the country inching back to pre-pandemic levels and average room rates on an upward curve due to sustained demand and we expect major hospitality players from our coverage universe like Indian Hotels Company and Lemon Tree Hotels to be the key beneficiaries.
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