Hotels Sector Check - Healthy Demand Led To Price Surge In Key Destinations In March: IDBI Capital

IDBI Capital Report

In our monthly hotels update we have summarised key events of the domestic hotel industry, new hotels signing/addition by key players during the month and pricing trend of key cities for March, 2024. We have analyzed pricing of 171 hotels with ~33,000 keys across key eight cities to understand the trend over last 24 months.

After a healthy start to the year, the industry has kept its momentum of healthy price uptick, majorly supported by good demand. Wedding season (as well as destination weddings), improved Meeting, Incentives, Conferences and Exhibitions travel and demand from corporate travel have been key levers for growth in average daily rate.

The organised players continued healthy inventory addition with Lemon Tree Hotels Ltd. adding six hotels and Indian Hotel Company Ltd. adding five hotels in March, 2024.

We maintain our positive outlook on Indian Hotels, Chalet hotels and Lemon Tree hotels amongst the listed players.

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