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Hotel industry to report double-digit revenue growth in FY24: Report
![IndiaTimes]()
Wednesday, 25 October 2023
The hotel industry will report double-digit revenue growth in FY2024, supported by the sustenance of domestic leisure and business travel and an increase in foreign tourist arrivals, rating agency Icra said on Wednesday. The industry has also benefitted from the G20 summit and ongoing ICC World Cup 2023, it added. Icra estimates pan-India premium hotel occupancy at around 70-72 per cent in FY24, after recovering to 68-70 per cent in FY23. Pan-India premium hotel average room rates (ARRs) are expected to be at around Rs 6,000-6,200 in FY2024, it said.
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Wednesday, 25 October 2023
