Indian Hotel Companies Showcase Robust Growth with High PE Ratios in 2023

Indian Hotel Companies Showcase Robust Growth with High PE Ratios in 2023

By Nishang Narayan

Published on May 7, 2024

The Indian hotel industry demonstrated remarkable financial performance in 2023, significantly outperforming its international counterparts, as reported by HVS Anarock in their latest India Hospitality Industry Overview. The study revealed that Indian listed hotel companies achieved an average price-to-earnings (PE) ratio of 56.4x, which is double that of global hotel giants like Marriott International and Hilton, which recorded an average of 28.4x.

The collective market capitalization of the top 23 hotel companies in India reached an impressive INR 191,333 crore as of April 1, 2024, with the top nine companies accounting for 77 percent of this market value. This substantial valuation underscores the robust growth and investor confidence in the Indian hospitality sector, especially post-pandemic.

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2023 marked a record year for the industry across several key performance metrics, including EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) and PAT (Profit After Tax), with significant advancements over 2022 figures. This growth has been driven by strong recovery strategies and improving industry fundamentals, which have also helped the sector attract more institutional and patient capital investments in recent years.

Laura Livers, Chief Revenue Officer at Intouch Insight, highlighted, "The data from our study points to a significant year of recovery and growth for Indian hotels, driven largely by technological adoption and innovative customer service strategies."

The report also sheds light on operational performance, noting that nationwide hotel occupancy rates for 2023 were between 63-65 percent, nearly reaching pre-pandemic levels, with Average Daily Rate (ADR) and Revenue Per Available Room (RevPAR) witnessing substantial growth. ADR reached approximately INR 7,400-7,600, surpassing both 2022 and pre-pandemic figures, and RevPAR grew by 29-31 percent from 2022, reflecting the industry's ability to drive rates amidst buoyant demand.

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The positive outlook for the Indian hotel sector is expected to continue, with projections for 2024 suggesting further improvements in occupancy rates and a 6-8 percent increase in ADR. This would potentially elevate RevPAR by 31-33 percent compared to pre-pandemic levels, affirming the sector's strong trajectory and offering promising prospects for investors and career professionals alike.

This comprehensive analysis by HVS Anarock not only highlights the resilience of the Indian hotel industry but also its pivotal role in shaping the global hospitality landscape through innovation and strategic growth initiatives.


The Westin Chennai Velachery Hosts Annual Cake-Mixing Ceremony

The Westin Chennai Velachery Hosts Annual Cake-Mixing Ceremony

By Manu Vardhan Kannan

Published on November 4, 2026

The Westin Chennai Velachery welcomed the festive season with its annual Cake-Mixing Ceremony, bringing together guests and patrons to celebrate the spirit of Christmas and a much-loved culinary tradition. Held in the hotel's lobby, the gathering marked the beginning of the property's Christmas preparations.

The ceremony featured approximately 150–200 kg of carefully selected dry fruits, mixed with an assortment of spirits, including rum, and traditional spices. Cinnamon added warmth to the blend, while nutmeg and star anise brought their distinctive aromas. Guests joined the hotel's team in tossing and mixing the ingredients, turning the occasion into an evening of festive cheer and shared experiences.

The cake-mixing ritual also marks the first step in the hotel's Christmas baking preparations. The mixture of fruits, nuts, spices and spirits will be left to mature over the coming weeks, allowing the flavours to develop before being used in traditional Christmas cakes and other festive delicacies prepared by the culinary team.

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Speaking on the occasion, Deepraj Mukherjee, General Manager, The Westin Chennai Velachery, said, "The Annual Cake-Mixing Ceremony is one of our most cherished traditions, signaling the arrival of the festive season at The Westin. It is a celebration that brings people together through food, shared experiences and the joy of giving."

Executive Chef Dinesh Kumar added, "For us, cake mixing is much more than a culinary tradition; it is about bringing people together, sharing the joy of the season and welcoming the festivities as a community. It is wonderful to see everyone come together and be part of this cherished tradition."

The evening concluded with guests enjoying festive treats, conversations and the cheerful ambience. With Christmas preparations now underway, The Westin Chennai Velachery looks forward to welcoming the season with a range of festive experiences and culinary offerings.


Ramada by Wyndham Ghaziabad Vasundhara Hosts Christmas Cake Mixing Ceremony

Ramada by Wyndham Ghaziabad Vasundhara Hosts Christmas Cake Mixing Ceremony

By Manu Vardhan Kannan

Published on November 4, 2026

Ramada by Wyndham Ghaziabad Vasundhara welcomed the festive season with its traditional Christmas Cake Mixing Ceremony, bringing together corporate associates, media representatives, influencers and distinguished guests for an evening of celebration and togetherness.

A much-loved pre-Christmas tradition, the ceremony marks the beginning of the festive baking season. It involves bringing together dried fruits, nuts, candied peels, aromatic spices and spirits in a large mixing bowl. The mixture is then left to mature over several weeks, allowing the ingredients to absorb the flavours and develop the richness needed for traditional Christmas cakes.

The gathering turned into an engaging celebration as guests put on aprons and joined the mixing activity, blending the ingredients by hand. Festive music, cheerful conversations and a specially curated high-tea experience added to the evening, making it an opportunity for guests to connect and enjoy the tradition together.

Speaking on the occasion, Remank Goel, Hotel Manager, said, "The Cake Mixing Ceremony is one of those beautiful traditions that brings people together and marks the beginning of a season filled with joy, warmth and togetherness. At Ramada, we believe hospitality goes beyond creating memorable stays; it is also about building meaningful relationships and celebrating moments that connect us."

Through the ceremony, Ramada by Wyndham Ghaziabad Vasundhara ushered in the Christmas season by bringing guests together to celebrate a tradition that has long been associated with festive preparations. The gathering highlighted the spirit of sharing, participation and togetherness that makes the season special.


Hyatt Regency Dehradun Resort and Spa Invites Travellers to Experience a Change of Air

Hyatt Regency Dehradun Resort and Spa Invites Travellers to Experience a Change of Air

By Hariharan U

Published on November 3, 2026

Hyatt Regency Dehradun Resort and Spa has introduced its “Make It a Getaway. A Change of Air.” campaign, inviting travellers to step away from urban routines and rediscover the pleasure of a break in the hills through dining, wellness and family experiences.

As air quality and urban pollution become increasingly important considerations for city residents, the idea of a getaway is taking on a different meaning. Beyond a change of location, travellers are seeking opportunities to slow down, spend time in new surroundings and make room for experiences that offer a break from everyday demands.

Located along Mussoorie Road, adjacent to Malsi Forest, Hyatt Regency Dehradun Resort and Spa brings together accommodation, dining, leisure and wellness in a setting that offers a different pace from city life. The campaign draws on the appeal of Dehradun's natural surroundings while positioning the resort as a destination for couples, families and individual travellers.

The experience extends beyond a conventional hotel stay. Guests can spend leisurely mornings, enjoy time by the pool, explore the resort's culinary offerings or make space for personal well-being through spa rituals and yoga experiences.

Dining forms an important part of the proposition. Range, the resort's cosmopolitan food gallery, offers a varied culinary experience, while Beyul, its rooftop bar and lounge overlooking the Malsi Reserved Forest, provides a setting for relaxed evenings and crafted drinks.

Families travelling with children can also explore Camp Hyatt, which offers younger guests opportunities for discovery and engagement. Alongside the resort's leisure facilities, the programme allows families to shape their stay around activities suited to different interests and age groups.

The resort's wellness offerings, including spa experiences and yoga, add another dimension to the getaway. Guests can combine restorative activities with poolside relaxation, dining and time spent exploring the surroundings.

Through “Make It a Getaway. A Change of Air.”, Hyatt Regency Dehradun Resort and Spa presents a holiday as an opportunity to step away from familiar routines and reconnect with experiences that often get overlooked in everyday life.

While the campaign draws on growing urban concerns around air quality, travellers should consider local air-quality conditions before making destination choices; a change of setting alone does not guarantee cleaner air.

Reservations

For reservations and more information, visit Hyatt Regency Dehradun Resort and Spa.

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