Indian hospitality industry revenue growth to normalise at 6–8% in FY2026: ICRA

ICRA has revised the outlook on the Indian hospitality industry to stable from positive, considering the expectations of normalised revenue growth of 6-8% in FY2026 on the high base, posted after three years of double-digit revenue expansion seen by the industry over FY2023 to FY2025. It estimates pan-India premium hotel occupancy to hold at 72-74% in FY2026, slightly higher than the 70-72% levels witnessed in FY2024 and FY2025.