Wednesday, August 21, 2024 Indian Hotels Company Limited reports a strong Q1 for Tata Group’s Delhi-NCR hotels, achieving 82% occupancy and boosting revenue to Rs 8,200 per room. The occupancy rate at Tata group-promoted Indian Hotels Company (IHCL) properties in the Delhi-NCR region rose by 2% to reach 82% in Q1 FY25, while the revenue per available room saw a 10% increase, hitting Rs 8,200. The slower pace of new hotel openings and strong domestic demand are expected to maintain high room rates during the upcoming travel seasons, as branded hotel room supply in India remains significantly underdeveloped.
According to data from hospitality consultancy Horwath HTL, the period from April to June saw the addition of 2,900 rooms, increasing the total supply by 1.4% to 191,000 rooms across India. Among these, the top eight cities, including Delhi, Mumbai, Bengaluru, and Chennai, experienced only a 0.
6% growth. However, extreme heatwaves and reduced MICE (meetings, incentives, conferences, and exhibitions) activity due to general elections have led to slower growth during this period, according to industry experts. This trend is expected to reverse later in the year.
Holiday planners have observed a significant reduction in the time taken by travelers to organize leisure trips, now down to 3-5 days from the previous 3-4 weeks, primarily due to long weekends. Demand for the upcoming travel season, typically beginning in December, is on the rise. During a recent earnings call, Ank.