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Luxury hotel chains in India were better off in 2016 than in the previous year, based on parameters such as occupancy rates and average daily rates, according to estimates by industry experts. (Pic: Instagram)
In This Pic : The Taj Mahal Palace
Pic Courtesy : BCCL - Non Copyright
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2/9
"More often than not, most of the assets of chains like Taj, Leela and the Oberoi Group in the calendar year have fared 5-7% higher in occupancy rates in terms of percentage points than the previous year and 3-4% higher on the average daily rate front," said Achin Khanna, managing director of the consulting and valuation practice at HVS. "Most of their products have taken the occupancy route and not sacrificed rates in the bargain, which is a healthy sign for an improving market." (Pic: Instagram)
In This Pic : luxury hotels
Pic Courtesy : BCCL - Non Copyright
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3/9
Khanna said the improved indicators — higher occupancy rates and room rates — were evident in the luxury and leisure segments. (Pic: Instagram)
In This Pic : luxury hotels
Pic Courtesy : BCCL - Non Copyright
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4/9
"Rates have actually gone up — albeit marginally — for the first time in five years and not fallen and that is true for both domestic and international luxury hotel chains," he added. (Pic: Instagram)
In This Pic : luxury hotels
Pic Courtesy : BCCL - Non Copyright
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5/9
The market-wide occupancy in the luxury segment grew by 1-2% and the increase in revenue per available room was about 3-4%, according to Abhijit Umathe, associate director (hospitality and leisure), at Knight Frank. (Pic: Instagram)
In This Pic : luxury hotels
Pic Courtesy : BCCL - Non Copyright
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