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HVS Monday Musings: Indian Hotel Sector – H1 2023 Performance Review

Demand patterns in the Indian Hotel sector are normalizing after the severe fluctuations of the past three years. Even though revenge travel is gradually declining, demand in the leisure segment remains strong. Meanwhile, the MICE segment and corporate travel segment are continuing to recover, despite the hybrid work culture, online meetings, and higher airfares slowing the turnaround rate. As a result, the sector witnessed an average nationwide occupancy rate of 63-65% in the first half of the calendar year 2023 (H1 2023), showcasing an increase of 6-8 percentage points (pp) from the same period in 2022. India’s average hotel rates saw a strong increase of 30-32% in H1 2023 compared to H1 2022 and were 21-23% higher than in H1 2019. The steady rise in average rates helped the nationwide RevPAR to reach INR4,650-4,850, reflecting a growth of 46-48% compared to H1 2022.

Unveiling Radisson Blu Resort, Kumbhalgarh: A spectacular retreat in the heart of Rajasthan

Radisson Hotel Group is proud to unveil Radisson Blu Resort, Kumbhalgarh in the heart of Rajasthan's best-kept secret. Nestled amidst the majestic Aravalli Range, this exquisite resort is poised to redefine the region's hospitality landscape by delivering a comfortable and stylish experience to guests backed by the Group's unparalleled service standards.

Radisson Hotel Group expands its presence in J&K with the opening of Radisson Hotel Sonamarg

Radisson Hotel Group has further strengthened its presence in Jammu and Kashmir with the opening of Radisson Hotel Sonamarg. This is the Group's seventh operational hotel in the region. Nestled in a picturesque valley, trout-filled rivers, green meadows, and awe-inspiring peaks, Sonamarg draws nature lovers and adventurers from far and wide to admire its beauty.