Live Mint quotes an ICRA report which ways that due to a modest increase in occupancy and a small increase in rates, the Indian hotel industry revenue growth is expected to strengthen to 9-11% in 2015-16.
Research firm ICRA further added that over the next 12 months it expects RevPAR (revenue per available room) to improve by 7-8% ─ driven by up to 5% pickup in occupancies, and 2-3% growth in Average Room Rates. “This traction comes after almost two years of negligible supply addition,” said ICRA.
