Business & FinanceTop StoryTop StoryLatest News
Delhi and Mumbai Overtake Rishikesh and Ranthambore in Hotel Tariffs
Sentiment: NeutralHigh Priority
What Happened?
For the first time since the pandemic, Delhi and Mumbai have surpassed Rishikesh and Ranthambore in average hotel tariffs, according to a report by Hotelivate.
Key points
- Delhi's average revenue per available room (RevPAR) is Rs 9,811.
- Mumbai's RevPAR stands at Rs 9,761.
- Ranthambore and Rishikesh have RevPARs of Rs 9,649 and Rs 9,583, respectively.
- Varanasi has seen a significant increase in tariffs, now at Rs 8,857.
- Srinagar experienced a 51.9% decline in RevPAR due to a terror attack.
- India has a pipeline of 1.6 lakh hotel rooms expected to open in the next five years.
Key insights
- The rise in tariffs for Delhi and Mumbai may attract more business travelers.
- Srinagar's decline could impact its tourism recovery efforts.
- The increase in hotel room supply may stabilize prices in the long term.
Why it matters
This shift in hotel tariffs indicates a recovery in corporate travel and tourism in major Indian cities.
Entities
Delhi· CityMumbai· CityRishikesh· CityRanthambore· LocationVaranasi· CitySrinagar· CityHotelivate· Organization
Source
Times of India
