NEW DELHI : Sporting events have joined weddings to become major contributors to the post-pandemic rebound in the hotel sector in India, according to a report.
This has led many companies to respond with enhanced value propositions and earnings to capture the rising demand. Hotels and resorts are also no longer apologetic about charging commensurately for the facilities and services they deliver, according to the ‘India Hotel Market Review 2022’ report by hospitality consultancy Horwath HTL. “Several records were made and broken; budgets achieved mid-financial year.
In the context of the last 14 years, and particularly the last two years, one could be excused for terming this as a ‘dream year’.
About 65% of respondents to a survey conducted by us said it was their best year ever; another 30% ranked it as among the three best years ever for their hotel," said Vijay Thacker, partner and chief executive, Crowe Advisory India, managing director, Horwath HTL India.