May 22 (Punjab Khabarnama) : The January-March quarter of this year has been good for India’s hotel industry. The hotel industry’s revenue per room increased 11 percent year-on-year during the quarter due to strong demand from both business and leisure destinations. Real estate consultant JLL India said in a statement on Wednesday that the hospitality sector witnessed an 8.5 per cent growth in average daily rates (ADR) year-on-year, resulting in an 11.4 per cent increase in revenue per available room (RevPAR).
Chennai recorded the strongest growth of 21.7 per cent in revenue per available room in January-March. According to JLL India, “The key factors contributing to this growth include increase in demand for corporate travel, weddings and meetings, conferences, exhibitions (MICE), etc.” Strong demand for hotel rooms was seen in. Occupancy rates in major commercial markets averaged close to 70 percent.