Robust pipeline for MICE venues across India

mandeepAs per ‘India Hospitality Industry Review 2018’ by HVS and ANAROCK, 2019 will see 105 new branded hotel openings with a total count of 8,574 keys. Sharing his comment on the report, Mandeep S Lamba, President (South Asia) said ” The Indian Hospitality sector is finally seeing a steady revival in its performance over the last two years with RevPar having grown 17% over a two-year period. The first quarter of the current year has witnessed significant growth exceeding all expectations and at HVS ANAROCK we are confident that the Industry will witness a 9.5% further RevPar growth in 2019 putting it on a firm growth trajectory. With the successful transactions of the Leela Hotels & Keys portfolios in the first quarter of 2019, our study predicting 2019 being the year with the largest transaction volumes expected to reach 800 million US dollars is well on its way to becoming a reality albeit with an even larger number. All this augurs well for the industry and brings renewed excitement to investors and stakeholders”.