The Indian hospitality sector continued to witness Year-on-Year (Y-o-Y) growth in performance in Q2 2023, primarily driven by the significant rise in Average Daily Rate (ADR) of 16.4% over Q2 2022 resulting in a RevPAR growth of 15.4%. The second quarter recorded a dip in occupancy levels due to the onset of the summer vacations…
Travel and tourism industry deal activity plummets by 41% YoY in January-May 2023
The travel and tourism industry has witnessed a massive 41% year-on-year (YoY) decline in deal activity from 475 deals announced during January-May 2022 to 282* during the first five of months of 2023, reveals GlobalData, a data and analytics company. Aurojyoti Bose, Lead Analyst at GlobalData, comments: “The decline in deal activity in the industry indicates…
