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India tier II and III cities such as Jaipur Indore Surat and notably Ayodhya are emerging as the growth drivers for the hospitality sector in India ....
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In the first quarter of 2024, the Indian hospitality sector experienced positive growth, with a significant increase in Average Daily Rate (ADR) driving Revenue Per Available Room (RevPAR) up by 11.4% compared to the same period in 2023. This growth was fueled by a rise in corporate travel, weddings, and MICE demand. The sector also saw a 5.5% increase in RevPAR from the fourth quarter of 2023, supported by strong occupancy levels and ADR growth. The outlook for the sector remains optimistic, with continued growth expected in the second quarter driven by business travel and leisure demand. ....
Minor Hotels sees significant Q1 profit growth with THB 530 million, benefiting from increased travel and robust rate growth, especially in Europe and Thailand. ....