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Clues by NC Team • 11 Feb 2019, Monday

Hotel chains such as ITC, Accor Hotels, and Sarovar are looking to upward revise their room tariffs owing to increased average occupancies and favourable demand-supply situation. The hike in rates could range between 8% and 10% this year. The Indian hotel sector is inching closer to the 70% average occupancy mark and the national average occupancy rate of around 66% in 2017-18 was the highest the industry has witnessed in almost a decade as per various industry estimates. A report by HDFC Securities in October last year said occupancy demand in the near future is projected to outgrow supply.

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