ONYX Hospitality Group


India Premium Hotel Inventory Demand to Increase

STR reported China hotel RevPAR for the week ended 11/5 was up 4.4% year over year. China’s Covid cases continue to surge with 8,824 new domestic cases reported on Wednesday. The state-run Xinhua news agency said authorities need to take a more targeted approach to tackling Covid outbreaks. Ratings agency Icra said they expect premium hotel inventory in India to increase 3.5% to 4% in the current fiscal year with an addition of around 15,500 rooms amid a recovery in demand.