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Hotel room rates set to rise in 2025, driven by strong demand growth

Business Standard LogoBusiness Standard7h ago

Hotel room rates set to rise in 2025, driven by strong demand growth - Business Standard

Quick Summary:

He also stated that while luxury and upper-upscale properties may see up to 10 per cent hikes, midscale and budget hotels are expected to witness more moderate increases of 6 to 8 per cent.

The ITC Hotels spokesperson further added that the luxury and super-upscale brands are driving higher growth due to increased demand in the wedding and MICE segments, with the primary demand drivers being the domestic market across all segments.

Another key reason driving higher room rates is the trend of events in key locations, which will drive occupancies next year.“We have observed this trend pan-India, be it through concerts, sports, or entertainment,” said an ITC Hotels spokesperson.“Brand Storii, for instance, is doing very well in Dharamshala, Goa, Kolkata, and Solan.


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Article Details

Category: BusinessFinance

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-22 @ 18:45:50 (7 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 903 words

Reading Time: 6 minutes read

Sentences: 22 lines

Sentence Length: 42 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Standard

News ID: 24582450

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Main Topics: BusinessFinance

Official Website: business-standard.com

Update Frequency: 148 posts per day

Year Established: 1975

Headquarters: India

News Last Updated: 2 hours ago

Coverage Areas: India

Ownership: Independent Company

Publication Timezone: GMT +5:00

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News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #49

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