India Hotels Projected to See 23% Growth Over Pre-Pandemic Levels

• STR reported China hotel RevPAR for the week ended 11/19. RevPAR was up 9.8% year over year in China while down -37.6% versus the same week in 2019.
• CapitaLand’s Ascott Limited unveiled its refreshed Somerset brand. This is the second largest brand in Ascott’s Global Portfolio.
• Crisil Ratings said the Indian hotel industry is likely to witness 23% growth in revenue this fiscal over the pre-pandemic level, driven by a strong recovery in business travel and continued traction in leisure travel.

STR reported China hotel RevPAR for the week ended 11/19. RevPAR was up 9.8% year over year in China while down -37.6% versus the same week in 2019. Absolute occupancy was 53.3% for the week, up from 46.6% during the comp week last year. CapitaLand’s Ascott Limited unveiled its refreshed Somerset brand. This is the second largest brand in Ascott’s Global […]