Indian Hotel industry registers growth
India’s hotel industry has shown robust growth in the fiscal (2011-2012) till November, notwithstanding the global and local economic slowdown, reporting continuous revenue-per-available-room (RevPAR) growth and the hotel inventory is expected to add another 61,000 rooms in the next three years, according to a survey.
Based on the market survey by STR Global, the global market watch on hospitality industry, India's hotel industry showed overall revenue growth in 2011. "India, with a population over 1.2 billion and a growing economy, is allowing the Indian hotel market to prosper as hotel brands continue to expand their portfolio in the main cities and in the regions," says Elizabeth Randall, managing director for STR Global. "Our partnership with Horwath HTL-India will help us to better assist our existing and future clients across India and provide more market visibility for international and national operators and investors alike,” she adds.