Year 2021 saw 110 properties open in India and 161 hotels signings: Noesis

In its Indian Tourism and Hospitality performance report 2021, Noesis states that the year 2021 saw 110 properties that have opened in various parts of the country while there were 161 hotels signed in the same year. The ARR was in the range of Rs 4,300-4,600, while the ARR in the fourth quarter was in the range of Rs 5,300-5,500, reaching almost 90% of the pre-COVID level. India’s top leisure and business destinations saw a surge in room rates during the third and fourth quarters of 2021.