ICRA estimates pan-India premium hotel occupancy at ~70-72% in FY2024, after recovering to 68-70% in FY2023. Pan-India premium hotel average room rates (ARRs) are expected to be at ~Rs. 6,000-6,200 in FY2024. While the occupancy is expected to be at decadal highs, the RevPAR is expected to remain at a 20-25% discount to the FY2008…
Hospitality must “abandon dependence on RevPAR and occupancy metrics” to thrive
Beonprice – one of the world’s hotel revenue management providers – has set out on a mission to persuade the hospitality industry to “abandon the dependence on RevPAR and occupancy rates metrics” and adopt “total sustainable profitability” opportunities to thrive in a post-COVID world. To replace RevPAR and occupancy rates the hospitality industry should shift to…
Cancun Almost Sold Out This Winter With Occupancy To Reach 95%
Proving it has risen from the ashes of Covid as one of the world’s top destinations, Cancun is close to selling out this winter, with occupancy rates predicted to reach up to 95% across the city’s luxurious resorts and beachside guesthouses. Of course, the actual figures can be much higher, and those planning on visiting…
APAC hotel occupancy shows recovery with strong Q4
As countries in Asia Pacific actively lift travel restrictions, Amadeus’ business intelligence data is showing strong recovery indicators for the remainder of 2022, and evidence of growing traveller confidence as the sector looks towards 2023. Maria Taylor, head of commercial, Hospitality, Asia Pacific, Amadeus, says: “It is extremely encouraging to see such positive hospitality trends…
