India Hotels Projected to See 23% Growth Over Pre-Pandemic Levels
Skift Take
- STR reported China hotel RevPAR for the week ended 11/19. RevPAR was up 9.8% year over year in China while down -37.6% versus the same week in 2019.
- CapitaLand’s Ascott Limited unveiled its refreshed Somerset brand. This is the second largest brand in Ascott’s Global Portfolio.
- Crisil Ratings said the Indian hotel industry is likely to witness 23% growth in revenue this fiscal over the pre-pandemic level, driven by a strong recovery in business travel and continued traction in leisure travel.
STR reported China hotel RevPAR for the week ended 11/19. RevPAR was up 9.8% year over year in China while down -37.6% versus the same week in 2019. Absolute occupancy was 53.3% for the week, up from 46.6% during the comp week last year.
CapitaLand’s Ascott Limited unveiled its refreshed Somerset brand. This is the second largest brand in Ascott’s Global Portfolio. Some of Somerset’s brand signatures include their signature scent, lobby wall features, associates known as Guardians, their Signature Themed Suites, Eco Play Area and Gym and being part of the green travel movement with the Somerset Sustainability Passport Programme. The Signature Themed Suites include Family Suites, Jungle-themed suites, Forest-themed suites, Tatami-themed suites, Arcade-themed suites and Pet-friendly themed suites. The Somerset brand refresh is part of Ascott’s Brand360 strategy, a groupwide exercise to strengthen its expanded brand portfolio through sha
