Tuesday, March 28, 2023
Asia-Pacific

Indian Premium Hotels Projected to See 80 Percent Rise in Revenue

  • A Crisil Market Intelligence report predicted the revenue of premium hotels in India will rise 80% this current fiscal year.
  • The Macao Government Tourism office said the number of mainland visitors to Macau reached 50% of pre-pandemic levels while the rebound of Hong Kong visitors is even stronger.
  • The MGTO also said they completed the approval process for the Raffles at Galaxy Macau hotel tower, part of Cotai‚Äôs Galaxy Macau Phase 3 project.

A Crisil Market Intelligence report predicted the revenue of premium hotels in India will rise 80% this current fiscal year. The rise will be on the back of 19%-21% after a 13% jump in 2022. Occupancy levels for premium hotels are expected to rise from 50% in the last fiscal year to 67-72 percent in Fiscal […]