Occupancy rates for five-star hotels witnesses growth of 240 basis points YoY during FY18

Occupancy rates for five-star hotels witnessed the sharpest growth of about 240 basis points y-o-y during FY18. This was followed by three-star hotels that registered a growth of about 200 basis points and four-star hotels that registered a growth of 180 basis points during FY18, while the five-star hotels witnessed lower growth of only 110 basis points y-o-y. Two-star hotels however, witnessed a decline of about 10 basis points in their occupancy rates during the year. Also, two-star hotels witnessed the maximum growth in the group in average room rates increasing by about 8.5 per cent y-o-y during FY18. This was followed by three-star hotels that registered a growth of about 5 per cent y-o-y in FY18. Four-star and five-star hotels recorded a growth of 3 per cent y-o-y each in average room rates. Apart from that, each star category witnessed a y-o-y increase in RevPAR in FY18, with the three-star category leading the pack, recording a 8.2 per cent growth during the year.