Hospitality

Indian hotel industry revenues to grow 9-10% in FY17

MUMBAI

The country’s hotel industry revenues are likely to improve by 9-10 per cent in 2016-17, mainly aided by improved occupancy, rating agency ICRA said.

It estimates the topline growth for the industry to be 8 per cent during 2015-16, report agencies.

The pan-India average room rate (ARR) will be flat for 2015-16, but occupancy improvements of 6-7 per cent supports revenue per available room (RevPAR) growth of 7 per cent, it said in a report.

Room inventory in the premium category is estimated to increase by 8 per cent for 2015-16, compared to 4 per cent during 2014-15.

With deferment in construction, supply addition would be lower than earlier estimates at 7.7-8 per cent for 2016-17.

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