The average occupancy and room rates for hotels in India are expected to be under further pressure with 50,000 new hotel rooms coming up in the top six cities over the next five years. A Cushman & Wakefield - Confederation of Indian Industry report titled 'Indian Hospitality Story 2012 & Beyond' says 2012 will see a supply of 14,800 rooms coming in across cities. Over the five years, the national capital region will see the maximum number of new rooms getting built at 17,550, followed by Mumbai with 10,200 rooms and Bangalore with 9,400 rooms.
The addition of new inventory, says the report, will be concentrated in the potential growth areas around airports, commercial growth corridors, industrial corridors and SEZs, which have emerged in the last few years as a result of growth in IT/ITeS, trade and commerce. According to the report, the top six cites witnessed an average occupancy rate (AOR) of 58% with an average room rate (ARR) of Rs 5,400 in the first half of 2012. "The current averages record a marginal decline of 4% in AOR and 5% in ARR over the average of 2011 (full year) performance. "Occupancy rates may see an upward trend in the second half of 2012 keeping ARRs steady. However, since there is a substantial supply that is expected to enter the market over the new few years, the pressure on occupancy rate and ARRs, will continue.
The phasing of the new inventory and gradual growth in the demand for hotels will help keep the rates at modest levels across the country," says Akshay Kulkarni, regional director, hospitality, south and south east Asia at Cushman & Wakefield. "" However going forward we expect ARRs to improve in the next 12- 18 months on account of stability in economy and expected growth in tourism in India."" The decline in average occupancy at popular destinations was primarily due to addition of supply in major cities in the first half of the current year. "On the other hand, a moderate slowdown in global economies led many corporations to curtail travel, while individual travelers have also been cautious due to fiscal uncertainties," says the report.
Source: Economic Times
Apartments, Flats and Property for Sale in Bangalore
Sep 21, 2016
Mahaveer Zephyr is a residential development of Mahaveer Group. It is located off Bannerghatta Road,..
Sep 16, 2016
Salarpuria Sattva Opus has pre- launched Bangalore a Premium Gated Community Residential..
Sep 14, 2016
Goyal Orchid Whitefield project is spread across 7 acres of land and it offers 1, 2, 2.5 & 3 BHK housing apartments with comfortable..
Sep 08, 2016
Area: 1272 sft.
Car Park: 1 slot.
Price: 1.05 Cr. Incl. 1 Car park & deposits..
Aug 30, 2016
Codename five rings is brand new venture of developer, nicely instituted at Sarjapur in Bangalore,..
Aug 29, 2016
Legacy Estilo Bangalore offers 1, 3 and 4 BHK apartments for buyers and consists of 58 units in all...
Aug 24, 2016
Peninsula Land is now in Bengaluru, with a luxurious gated residential complex “Peninsula..
Aug 22, 2016
Legacy Celino is located in Thanisandra, Hebbal to Airport in Bangalore. Legacy Celino is currently a..
Aug 16, 2016
Bhadra Legacy is a modern luxurious living space at a premium location of Bangalore, MG Road. The 19 super luxurious apartments offers a..
Aug 11, 2016
Godrej 17 brings to the market a wide range of apartments for families of all sizes at an affordable price..
Apartments, Flats and Property for Rent in Bangalore
Sep 16, 2016
Fully furnished Flat for Rent at Cookes Town ( Lloyd Road) 3 BHK with Car Parking, Lift, Power Back up,
24hrs water, Good Location with all..
Jul 25, 2016
The House available for Rent is in the First floor
The locality of house is Near Koramangala
and Outer Ring Road
House No. 12, 19thA Cross, Near..
Jul 02, 2016
Flat for Rent at Cookes Town 2 BHK with car parking 24hrs water, Lift, Power Back up, Good Location with all Basic Fecilities. Rent0..
May 28, 2016
A spacious 3 Bedroom flat is available for Rent in Kadugodi, Bangalore. It is located on the 2 Floor. It has a covered area of 1650 Sq-ft. The..
May 24, 2016
2bhk ready to move closer too all basic needs
closer to all IT CO. very good and safe..
May 02, 2016
Flat for Rent at M.G Road (Vittal Mallya Road ) 2 BHK Ground Floor Built up - 1340 sq feet, North Facing 24hrs water, Lift, Power back up, Good..
Apr 28, 2016
New Flat for Rent at Frazer Town 2 BHk with car parking Lift, power back up,24hrs water Good Location with all Basic Fecilities, Rent..
Apr 12, 2016
3bhk Pent House For Rent in Akme Ballet Apartment For 52k Call SAIF
Size: 3BHK (2300sft)
Area: Outer Ring Road, Dodda Nekundi, Bangalore
Mar 19, 2016
Rs20000 / 2br - 1100m2 - 2 BHK house for rent (kundanhalli..
Mar 18, 2016
*SPACIOUS FLAT WITH EXCELLENT DAY LIGHT( NATURAL LIGHT) AND AIR CIRCULATION
* Furnished with Sofa set, TV cabinet , Double bed , Exhaust Fans,..