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Updated January 1st, 2024 at 09:40 IST

New year festivities boost hotel bookings, defying COVID-19 concerns

Domestic travel has seen a significant resurgence, propelled by a flurry of weddings and festive engagements.

Business Desk
New year celebrations
New year celebrations | Image:Unsplash
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As New Year festivities unfold, the hospitality sector is capitalising on the celebratory mood, witnessing a notable uptick in dining and resort bookings despite concerns over a COVID-19 resurgence. Several industry insiders have reported encouraging growth figures, with room revenue notably up by 19 per cent compared to the same year-end period previously.

Pradeep Shetty, President-elect of the Federation of Hotel & Restaurant Associations of India (FHRAI), said that the renewed concerns over COVID-19 have not dampened the festive spirit. "Hospitality venues remain committed to rigorous safety protocols, fostering an atmosphere of positivity and celebration," Shetty remarked. He highlighted that major cities and resort destinations alike are experiencing a surge in bookings, with resort occupancy rates surpassing 80 per cent.

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Furthermore, domestic travel has seen a significant resurgence, propelled by a flurry of weddings and festive engagements. Shetty noted the palpable enthusiasm for domestic travel, revealing robust year-end occupancies in hotels across the board. 

Echoing this sentiment, KB Kachru, Vice President of the Hotel Association of India, expressed optimism about New Year's bookings. "We anticipate sustained growth, expecting room occupancy to maintain its current trajectory," Kachru commented. 

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Chander K Baljee, Chairman and Managing Director of Regenta & Royal Orchid Hotels, provided concrete data to support this trend. He stated, "Our room revenue has grown impressively by 19 per cent year-on-year, coupled with a 5 per cent increase in the average room rate until November."

However, Kachru cautioned that while the average daily rate (ADR) is poised for continued growth, potential geopolitical factors could moderate this upward trend in the forthcoming year.

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(With PTI inputs)

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Published December 31st, 2023 at 11:10 IST

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