Asianfriend Hotels see uptick in revenue on strong show from wedding, MICE segments

News Information

  • NEWS_POSTED_BY: Jinny Chad
  • NEWS_POSTED_ON: Nov 17, 2022
  • Views : 353
  • Category : Business
  • Description :

    Amid a strong show from the wedding, and meetings, incentives, conferences and exhibitions (MICE) segments, hotels across the country are witnessing a handsome growth in revenue. The situation is also being aided by the domestic air passenger traffic picking up.

    The India-wide average daily rate (ADR) for the hotel sector in September 2022 was in the range of Rs 5,900-6,100, logging in a rise of 43-45% over the same month last year, according to hospitality consulting firm HVS Anarock. With an occupancy of 62-64%, the revenue per available room (RevPAR) came in at Rs 3,658-3,904 in September 2022.

    "Considering that travel has picked pace this year and also wedding, events and conferences segment has bounced back, we are clocking 30% higher revenue," Rahul Joshi, general manager, Taj Hotel and Convention Centre, Agra, told India