June 17, 2024

Premium Hotels to Set Ten-Year High Occupancy Rates This Fiscal

Take Change

Industry experts are very supportive of premium hotel revenue growth due to better operating parameters, mainly due to domestic demand and global events like the G20 Summit and the 2023 Cricket World Cup.

Amrita Ghosh

Just a day after a budget hotel operator Oyo forayed into the premium resorts category to launch its new brand Palettecredit rating agency EXECUTION estimates premium hotel occupancy in India to achieve a ten years high of 70-72% with average room rates looking around $74-$76 in the financial year 2024.

“Gateway cities like it Delhi and Mumbai they are likely to top the occupancy chart at 75%+ in FY2024. Demand is expected to remain healthy across markets, although Bengaluru and Pune are likely to be laggards compared to other capital cities,” said Vinutaa Svice president and head of corporate ratings sector at ICRA.

Consistent improvement i consumer sentiments despite the inflationary environment, stable corporate performanceand domestic passenger air traffic Above pre-Covid levels bode well for travel and hotel demand, ICRA said in a statement.

“Incremental premium supply is concentrated in select markets, with Mumbai and Bengaluru accounting for the bulk of the upcoming inventory,” Vinutaa said, adding that there were also significant supply announcements in tier II and religious destinations.

The ratings agency also said the Indian hotel industry set to report a 13-15% revenue growth in the financial year 2024despite the potential demand impact from further waves of Covid.

India Rises Five Spots in Passport Strength Rankings

Henley Passport IndexThe latest ranking puts India’s passport at the 80th spotmoving it up five places from its position in 2022.

Indians can travel to now 57 destinations without a visa. In contrast, citizens of Singapore, which tops the list, have visa-free access to 192 countries, with other Western countries not far behind.

India’s current rank ties it with West African countries like Togo and Senegal.

While Indian passport holders visa free and visa-on-arrival access to countries such as Indonesia, Thailand, Rwanda, Jamaica and Sri Lanka, they still need a visa to enter 177 destinations around the world. Some of these countries include China, Japan, Russia, the USA, and European Union countries.

New Port Blair Terminal Building to Handle 5 Million Passengers Annually

prime minister Narendra Modi on Tuesday was inaugurated almost the new integrated terminal building of the Veer Savarkar International Airport at Port Blair in Andaman and Nicobar Islands.

With a whole built up area of ​​it 40,800 square meters and estimated cost thereof $87 millionthe shell-shaped building will have the capacity to handle 1,200 passengers during peak hours and approximately 5 million passengers per year.

The three-storey building will be equipped with 28 check-in countersthree passenger boarding bridges and four conveyor belts.

“Until now the existing terminal had the capacity to handle 4,000 tourists, and the new terminal has taken this number to 11,000 and 10 planes can be parked at any given time at the airport now,” Modi said.

Maharashtra Tourism’s Aurangabad Resort has turned into an All-Women Property Management Resort

Maharashtra Tourism Development Corporation (MTDC) Aurangabad resort would soon be converted into an all-female managed facility as part of the gender-inclusive policy of the state tourism department ‘Aay.’

“Our Aurangabad resort was chosen because it is a world heritage site site and has a sprawling MTDC property. The area attracts a significant number of foreign and domestic tourists, making it famous among travelers,” it said. Chandrashekhar Jaiswalgeneral manager of MTDC in Mumbai.

Last month, Marriott’s Westin Hotels & Resorts it also sent 168 management keys to women Hitec City Westin Hyderabad. In 2021, even owned by the Tata Group Indian hotel company opened the first women-managed luxury residence in South Asia, Taj Wellington Mews in Chennai in the southern state of Tamil Nadu.

Belaiv to Launch Direct Flights Between Minsk and Delhi From 11 August

Bearer of the flag of Belarus the Belaiv It is planned to launch non-stop flights once a week Minsk and Delhi from 11 August. The flight will depart from Minsk on Friday at 8.25 pm and land in Delhi the next day at 5.35 am, with a flight time of 6 hours and 40 minutes, while the return flight is scheduled to depart at 6.55 am on Saturday and land in Minsk after approximately 7 hours and 15 minutes, at 11.40 local time, at 11.40 local time, Bela’s statement.

The cheapest one-way air fare is priced $358 and bookings have begun, the airline said. The Belaiv will operate the route with seat 174, Boeing 737-8 aircraft with economy and business class seats.

Hotels in Kerala Grow Online Bookings by 80% Using STAAH Technology

A global hospitality solutions provider based in New Zealand GROW It has the capacity of hotels in southern Indian states Kerala to increase a online reservations up to 80% with high technology distribution solutions such as channel manager and booking engine.

For example, Hotel Span International in Kochi, a four-star business hotel with an inventory of 37 rooms, saw an 80% increase in direct online bookings. Fog Munnar Resort saw a 40-50% increase in their bookings, with an inventory of 40 rooms. Krishnavalsam Regency in Guruvayur, offering 40 rooms, was able to mark a 40% increase in direct website bookings.

“STAH’s success stories in Kerala show the potential of a robust direct booking system as a powerful sales and distribution channel that directly impacts the bottom line,” said Shoaib Alinational sales head of India at STAAH.

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