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.


Holiday Inn New Delhi Mayur Vihar Noida Elevates Guest Experience with Renovated Suites Featuring a Private Steam Room

Holiday Inn New Delhi Mayur Vihar Noida Elevates Guest Experience with Renovated Suites Featuring a Private Steam Room

By Manu Vardhan Kannan

Published on February 20, 2026

Holiday Inn New Delhi Mayur Vihar Noida has unveiled its newly renovated suites, thoughtfully designed for business and leisure travellers looking for comfort, style, and modern convenience. These suites reflect the changing expectations of today’s guests, where elegant design meets practical luxury.

Located on the hotel’s higher floors, the suites offer sweeping panoramic views of the city skyline, setting a calm and relaxing tone for the stay. The overall design focuses on comfort, wellness, and functionality, making the suites ideal for guests who value both relaxation and efficiency.

The interiors feature Belgian hardwood flooring, adding warmth and a timeless appeal to the space. Each suite includes a separate living room and dining area, offering ample room to unwind or host informal meetings. The bedrooms are spacious and well-planned, with comfortable seating areas that allow guests to relax while taking in the city views.

To ensure year-round comfort while keeping sustainability in mind, the suites are fitted with advanced energy-efficient air-conditioning systems that provide effective climate control with reduced environmental impact.

For added convenience, the suites include an elegant powder room along with a large bathroom featuring either a walk-in shower or a soaking bathtub. Guests also have access to a well-designed walk-in wardrobe and generous luggage storage space.

One of the most distinctive features of these suites is the private steam room, a rare offering that adds an extra layer of relaxation and wellness for guests seeking a rejuvenating experience during their stay.

Entertainment and refreshments are equally well taken care of. A fully stocked bar cabinet meets all refreshment needs, while 65-inch LED televisions placed in both the living area and bedroom ensure a seamless and immersive viewing experience throughout the suite.

“Our goal has always been to create spaces where guests feel truly at home. These new suites are not just about luxury, they are about thoughtful design, wellness and moments of calm in the midst of a bustling city. Every detail, from the panoramic views to intricate interiors and the private steam room, is intended to make our guests' stay not only comfortable but memorable”. said Anurag Rai, General Manager, Holiday Inn New Delhi Mayur Vihar Noida.

Hotel Address:

  • Holiday Inn New Delhi Mayur Vihar Noida, District Centre, 13A, Mayur Vihar, New Delhi - 110091

Al Habtoor Palace, Dubai Retains Forbes Travel Guide Four-Star Rating for 2026

Al Habtoor Palace, Dubai Retains Forbes Travel Guide Four-Star Rating for 2026

By Hariharan U

Published on February 19, 2026

Al Habtoor Palace has retained its prestigious Four-Star rating in the 2026 Star Awards by Forbes Travel Guide, reaffirming its position among the world’s distinguished luxury hospitality destinations. The 68th annual Star Awards span 100 countries and recognise excellence in hotels, restaurants, spas, and cruise experiences.

Overlooking the scenic Dubai Water Canal, Al Habtoor Palace is renowned for its Beaux-Arts-inspired architecture and palatial interiors. The hotel features 182 guest rooms and 52 suites, offering a seamless blend of classical elegance and contemporary comfort. A signature highlight is its bespoke butler service, ensuring personalised attention and a refined guest journey from arrival to departure.

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Culinary excellence remains central to the hotel’s identity, with a curated collection of fine dining venues presenting world-class cuisine in sophisticated settings. Guests can also unwind at the award-winning spa, designed to deliver restorative treatments and holistic relaxation experiences.

Located within Al Habtoor City, the property enjoys prime access to Sheikh Zayed Road and Dubai’s cultural and entertainment hubs. With state-of-the-art event spaces and elegant surroundings, the hotel continues to be a sought-after venue for corporate gatherings, weddings, and grand celebrations.

Stefan Radstrom, Complex General Manager of the Al Habtoor City Hotel Collection, said, “We are truly honoured to be awarded the Forbes Travel Guide Four-Star Rating for 2026. This recognition celebrates our continuous dedication to delivering an exceptional experience for every guest. We take pride in offering unmatched service, refined comfort, and world-class amenities with every stay.”

Amanda Frasier, President of Standards & Ratings at Forbes Travel Guide, added, “Forbes Travel Guide’s Star Award winners exemplify excellence in hospitality. This year’s list reflects the changing landscape of luxury, with properties setting the standard for authentic experiences while offering unparalleled amenities and enhanced well-being.”

The continued recognition underscores Al Habtoor Palace’s commitment to meticulous service, elevated experiences, and timeless luxury in the heart of Dubai.


Enrise by Sayaji, Latur Opens in MIDC Hub, Strengthening Marathwada’s Hospitality Infrastructure

Enrise by Sayaji, Latur Opens in MIDC Hub, Strengthening Marathwada’s Hospitality Infrastructure

By Hariharan U

Published on February 17, 2026

Enrise by Sayaji, Latur has officially opened in the city’s Old MIDC Area, marking a strategic addition to the hospitality infrastructure of Maharashtra’s Marathwada region. The 30-room property is designed to cater to Latur’s rapidly expanding industrial and business corridor, reinforcing the city’s position as one of India’s fast-growing tier-2 markets.

Latur, home to over 24 lakh residents (Census 2011), is recognised as a major soyabean trading centre and for its 11 cooperative sugar factories, earning it the title “Sugar Belt of Maharashtra.” The region’s strong agro-industrial base continues to generate sustained demand for quality business hospitality.

The hotel offers 30 rooms across three categories - 18 Deluxe Rooms, 9 Executive Rooms and 3 Premium Executive Rooms, tailored for business and leisure travellers. Expansive MICE and event facilities include four banquet venues: Jewel, accommodating up to 700 guests in a theatre-style setup; Solitaire for mid-sized gatherings; Crystal for corporate meetings; and Connect, an intimate boardroom space.

Dining options include two multi-cuisine restaurants, Momentt and Horizon, serving resident guests, business travellers and local diners.

Ajay Kanojia, Associate General Manager, Sayaji Hotels Ltd, stated that Latur aligns with the brand’s strategic expansion into high-potential growth markets, bringing its signature “Yours Truly” service ethos to the region. Mayur Garje, Managing Director, Garje Unit, highlighted the partnership’s role in elevating hospitality standards in the district.

Located 3 km from Latur Railway Station and 120 km from Solapur Airport, the property offers convenient connectivity for corporate travellers. The opening reflects Sayaji Hotels’ continued focus on expanding across emerging business destinations in India

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