Boom Time for Hospitality Industry
As per the survey of a global hospitality consultant, M/S HVS International, hospitality industry and real estate India continues to have good time in future. As per the study, Bangalore has enjoyed highest room occupancy of 82% with highest average rental rate (ARR) of Rs.12,100/- The occupancy and ARR, in respect of other cities, such as Kolkota pegged at 77% & Rs.4500, Chennai 79% $ Rs.5850 and Delhi 78% & Rs.9750 respectively.
Though traditionally, April to August is considered to be a lean season for hotel industry in India, yet there are certain destinations like Kerala and Goa which are round-the-year-destinations barring weekly fluctuations, therefore there is huge demand for real estate property in India. But as per the statement of Mr.Jagmohan Mishra, V.P(Operations) Bharat Hotels, there is buoyancy in the hotel market of metros. A positive point for Goa is that meetings, conferences, exhibitions as well as wedding markets are usually at an increasing pattern being a sea-shore and congenial climate whereas non-metro tourist destinations such as Agra and Jaipur etc. will face a dip of 25% to 45% in their occupancy and ARR in non-peak season i.e. April to August.
Related Tags: india property, property in india, real estate india article, rea estate india
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