According to ICRA (Investment Information and Credit Rating Agency), the Indian hotel industry is poised to witness a 7-9 per cent revenue growth in the fiscal year 2025.
The sustained demand for domestic leisure travel, coupled with the resurgence of meetings, incentives, conferences, and exhibitions (MICE), including weddings and business travel post-election period, is projected to be the driving force behind this positive outlook
For Courtyard by Marriott Gurugram Downtown, FY24 proved to be a year of resilient growth despite the challenges posed by the evolving hospitality landscape. "Despite fluctuating market conditions, the hotel managed to exceed revenue targets through strategic initiatives and a customer-centric approach. Key performance indicators such as occupancy rates, average daily rates, and guest satisfaction scores showcased positive trends throughout the fiscal year," it said.
"Looking forward to FY25, the hotel is poised for even greater success with a focus on enhancing guest experiences and expanding its market reach. Major developments on the horizon include the introduction of innovative technology solutions to streamline operations and personalize guest interactions. Additionally, the hotel will continue to invest in sustainable practices to align with evolving consumer preferences and industry standards," the hotel added.
To further differentiate itself in the market, Courtyard by Marriott Gurugram Downtown will roll out a range of special offerings tailored to meet the diverse needs of its guests. These offerings may include curated culinary experiences, exclusive packages for business travellers, and wellness-focused amenities designed to promote relaxation and rejuvenation.
ICRA said that spiritual tourism and Tier 2 cities are expected to contribute meaningfully to the overall demand in the next fiscal. Pan-India, average room rates (ARRs) are expected to be around Rs 7,800 to Rs 8,000 in the financial year 2025.