STR Global is expanding its worldwide operations to India. In partnership with Horwath HTL-India, the new operation includes the appointment of a Business Development Manager based in the offices of Horwath HTL-India in Mumbai.
“The increasing importance and growth of the India hotel market is clear, and we are delighted to be strengthening our presence in the region”, said Elizabeth Randall, managing director, STR Global. “This additional resource will allow us to develop more comprehensive market coverage whilst also delivering quarterly city spotlight reports and bi-annual market reports in conjunction with Horwath HTL-India”.
“The availability and analysis of more refined global, national and local comparables will be valuable to the Indian hospitality industry, particularly as competition increases and the market deepens. We look forward to working with STR Global for the benefit of hoteliers, investors, developers and lenders”, said Vijay Thacker, Director Horwath HTL-India.
During August the overall hotel market demand in India was up year to date compared to the previous year across Indian markets. Despite additional hotel supply coming into the cities, rate and occupancy performances have remained positive. As illustrated on the table above, only Delhi experienced a RevPAR contraction. The city’s recent anti-corruption protests seem to have impaired occupancy mainly in July and August. However, Dehli’s RevPAR remained the second highest RevPAR (INR 5,074), only slightly lower than Mumbai.
STR Global now has more than 47,000 rooms participating in its survey across India.
For complete release with table, open the attached Word document.