1、HVS IndiaHospitality IndustryOverview 2024The Leela HyderabadContentsDevelopment Analysis28Outlook40Performance Analysis14Executive Summary 06Foreword 04Mandeep S.LambaPresident&CEO(South Asia),HVS ANAROCKAkash DattaPresident,Consulting&Valuation(South Asia),HVS ANAROCKDipti MohanAssociate Vice Pres
2、ident&Head,Research(South Asia),HVS ANAROCKDhwani GuptaAssociate,Research(South Asia),HVS ANAROCKShivansh AgarwalResearch Analyst(SouthAsia),HVS ANAROCKPealiDezineConcept&DesignKEY CONTRIBUTORSTravel&Tourism08Taj Mahal,AgraRadisson Collection Hotel&Spa,Riverfront SrinagarMandeep S.Lamba President&CE
3、O(South Asia)HVS ANAROCKIndia is transitioning from a nascent hotel market towards a more mature one and it is going to be an exciting time as this transition takes place over the next decade or so.Last year at this time when I was writing my Op-Ed piece for 2023,the song that had come to mind was L
4、ove is in the air as the sector received much love from all around along with a rare sense of respect and adulation from owners and investors.The lingering question at that time was if the bull run that we were witnessing is likely to continue as we moved into the next financial year or will things
5、slow down.With elections scheduled in India and the US where Trump was seeking re-election after an unsavoury defeat,there were concerns of some impact on domestic demand and a further delay in Foreign Tourist Arrivals recovery.Notwithstanding the concerns above,the Indian hospitality sector continu
6、ed its upward performance trajectory with a healthy double digit RevPAR growth of just under 11%which translated into an almost one percentage point(pp)increase in Operating Margins with a robust sector GOP of 46.4%.With fresh institutional capital pouring into the sector through IPOs and a renewed