Asia-Pacific
India Hotels Projected to See 23% Growth Over Pre-Pandemic Levels
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.