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ICRA expects the Indian hotel industry to report double-digit revenue growth in FY2024, supported by the sustenance of domestic leisure travel, demand from meetings, incentives, conferences, and exhibitions (MICE), and business travel, along with an increase in foreign tourist arrivals (FTAs).
ICRA estimates pan-India premium hotel occupancy at ~70-72% in FY2024, after recovering to 68-70% in FY2023.
Indian hotel industry to witness decadal-high occupancy of 70-72% in FY2024: ICRA Read More »
Domestic air passenger traffic is estimated to have logged an 83 per cent growth year-on-year at 10.5-million in April
India’s domestic air passenger traffic witnesses 83% growth in April Read More »
The waning Omicron wave resulted in a sequential growth in domestic air passenger traffic by 19% at 76 lakh in February 2022 compared to 64 lakh in January 2022
India’s domestic passenger traffic grows 19% during February Read More »
According to ICRA, domestic air passenger traffic crossed the 10-million mark in November for the first time since the pandemic hit the aviation industry in March last year
India’s domestic air passenger traffic crosses 10-M mark in November Read More »
For April 2021, domestic passenger traffic is estimated at 55-56 lakh, implying a sequential decline of 29% compared to 78.2 lakh in March 2021
India’s domestic passenger traffic shrinks 29% in April 2020 Read More »
The Indian hotel industry is going through its worst performance phase ever following the economic slowdown, the outbreak of Covid-19 pandemic and subsequent lockdowns. These have led to significant decline in occupancy and average room rates (ARR) as also revenues, operating margins and credit metrics. As per credit rating agency ICRA’s detailed sector report, the
No early road to recovery for Indian hotel industry: ICRA Read More »
After reporting a year-on-year de-growth of 4.4% in domestic passenger traffic in April 2019, the first after six years of monthly year-on-year growth, the domestic passenger traffic rebounded marginally in May 2019, with a year-on-year growth of 3.3%. As per rating agency ICRA, this is primarily attributable to the gradual increase in capacity as airlines
Indian aviation industry starts a slow take-off in May Read More »
Popular as “God’s own country”; Kerala is a big lure for inbound tourism in India. But the August 2018 flood in Kerala has severely affected the state’s economy and even so the tourism sector.
ICRA: Kerala floods drench tourism growth Read More »