TBM Staff - Mumbai The hotel industry of India saw strong demand at both business and leisure destinations during the Jan.- March period leading to an 11 per cent annual rise in revenue per available room, according to JLL. In a statement , real estate consultant JLL India said that the hospitality sector saw an increase in average daily rate (ADR) of 8.5 per cent year-on-year, resulting in a revenue per available room (RevPAR) growth of 11.4 per cent. Chennai recorded the strongest growth in RevPAR at 21.7 per cent in Jan.-March.
“Major factors contributing to this growth included an increase in corporate travel, weddings, and meetings, incentives, conferences and exhibitions demand,” the consultant said. During the first quarter of 2024, there was a robust demand for hotel rooms in both business and leisure destinations. The occupancy levels in key business markets were strong, averaging around 70 per cent, and supported by significant growth in average daily occupancy levels. “Branded hotel openings comprised 36 hotels with 2,316 keys, of which 75 per cent of the total number of keys were in Tier II, III cities,” JLL said.
