1、CAUTION HANDLE WITH CARE2024 INDIAN HOSPITALITYTrends&OpportunitiesAchin Khanna,MRICSManaging Partner,Strategic AdvisoryShreya GopinathSenior Associate,Strategic AdvisoryHOT!Handle with Care.Such a simple,yet effective message displayed on your daily Take-Away Coffee cup,isnt it?It cautions you abou

2、t the temperature of its contents,while advising you to be watchful of the way you manage them.No confusing,long drawn disclaimers peppered with opinions and caveats.Uncomplicated,straight and clear!HOT.Handle with Care.Thats it!The 2023/24 Trends&Opportunities Report for the Indian Hospitality Indu

3、stry shares the spirit of this very same message.The fiscal year(April 2023 March 2024)had two clear,yet distinct memos for you.The industry is Fiery HOT!However,this is precisely why what we do from here on must be handled with the utmost care.Last years report had a few key takeaways and then some

4、 predictions for 2023/24.Lets revisit these points first.The year 2022/23 closed with a nationwide occupancy of 66.4%and ADR of 6,931,yielding a decadal high RevPAR of 4,537.We had labelled this performance The Surfers Paradise and even claimed that its results were worthy of being etched in the Ind

5、ian Hospitality industrys almanac.We did also make note of the fact that while the party wasnt over just yet,the sector may have reached The Goldilocks Zone,representing relative stability in the demand-supply dynamics playing out as hotels conduct business in the near to medium term.Goldilocks woul

6、d have been pleasantly surprised with the treats that awaited her in 2023/24.The branded and organised hotel sector in India closed with a nationwide occupancy of 67.5%(the highest in a decade),with an ADR of 8,055(the highest EVER)and a consequent RevPAR of 5,439(marginally shy of the lifetime high