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.


Four Seasons Bengaluru Introduces The Wine Studio for Curated Wine Experiences

Four Seasons Bengaluru Introduces The Wine Studio for Curated Wine Experiences

By Hariharan U

Published on January 21, 2026

Four Seasons Hotel Bengaluru has added a new chapter to the city’s evolving luxury dining scene with the launch of The Wine Studio: Curated by CUR8. Designed as one of India’s first dedicated wine studios, the space places wine firmly at the centre of the experience, blending heritage, expertise and modern sensibilities in an intimate setting.

Inspired by humanity’s long-standing relationship with wine, the studio reflects a thoughtful approach to wine appreciation, where each pour tells a story of origin, craftsmanship and time. Known for its strong beverage philosophy, Four Seasons Bengaluru has envisioned The Wine Studio as a refined enclave where wine is not just served, but explored with intention and curiosity.

At the heart of the concept is flexibility and personal choice. Guests are encouraged to create their own cheese boards, discover boutique Indian wine labels, or explore celebrated international vintages ranging from Indian Chenin Blancs to classic Burgundies. The studio adapts seamlessly to private gatherings, sommelier-led masterclasses, tastings, and even business meetings, adding a cosmopolitan layer to Bengaluru’s dining culture.

As India’s wine-aware audience continues to grow, The Wine Studio offers a space tailored for both seasoned connoisseurs and curious newcomers. Seasonal pairings, guided tasting sessions and immersive classes invite guests to deepen their understanding of wine in a setting that is elegant yet approachable.

The experience calendar includes curated journeys such as The Grand Tour de France, featuring wines from Bordeaux to Burgundy paired with artisanal cheeses and freshly sliced baguettes, and The Italian Wine and Cheese Soirée, which showcases bold reds alongside Prosciutto di Parma and regional Italian flavours. Each experience is designed to be interactive, educational and indulgent.

Great wine has always brought people together, and at Four Seasons, we see that as an extension of our philosophy of exceptional hospitality. The Wine Studio allows guests to explore wines not just as beverages, but as stories - of terroir, craftsmanship, and time. Our aim was to create a space where curiosity is welcomed, expertise is shared generously, and every tasting feels personal,” says Biswajit Chakraborty, General Manager, Four Seasons Hotel Bengaluru.

With this launch, Four Seasons Bengaluru continues to reinforce its position as a leader in luxury hospitality, offering experiences that are refined, immersive and aligned with the city’s growing appreciation for global wine culture.


Della Resorts Unveils Curated Luxury Retreat for the Republic Day Long Weekend

Della Resorts Unveils Curated Luxury Retreat for the Republic Day Long Weekend

By Hariharan U

Published on January 18, 2026

As the Republic Day long weekend approaches, Della Resorts & Adventure is inviting travellers to step away from city life and indulge in a curated luxury retreat set amidst the scenic hills of Lonavala. Designed for guests seeking a refreshing escape without travelling far, the Republic Day Retreat offers a relaxed yet indulgent holiday experience close to Mumbai and Pune.

Available from January 25, the retreat features a luxury overnight stay complemented by a complimentary breakfast, a specially curated buffet dinner, and live entertainment, creating an effortless setting for guests to unwind and celebrate the long weekend in comfort.

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Ideal for couples, families, and groups of friends, the experience blends comfort, indulgence, and entertainment, allowing guests to slow down and enjoy a thoughtfully planned staycation. With its expansive property, multiple dining venues, and signature hospitality, Della Resorts continues to position itself as a preferred destination for short luxury escapes.

The Republic Day Retreat is offering an attractive premium getaway option for travellers looking to mark the national holiday with a memorable and relaxing experience in the hills of Lonavala.


Hyatt Place Butwal Announces Opening in Western Nepal

Hyatt Place Butwal Announces Opening in Western Nepal

By Hariharan U

Published on January 17, 2026

Hyatt Place Butwal has officially announced its opening, marking a significant milestone in the hospitality landscape of western Nepal. The property becomes Butwal’s first internationally branded five-star hotel, introducing global hospitality standards to a market witnessing rapid economic and tourism-led growth.

The opening reflects Butwal’s rising importance as a regional hub, supported by expanding industrial activity, improving infrastructure, and growing international connectivity. With the operationalisation of Gautam Buddha International Airport in nearby Bhairahawa, demand for international-standard accommodation has increased across business, leisure, and trade segments.

Hyatt Place Butwal has already made an impact on the city’s evolving social and lifestyle scene with the successful hosting of its grand opening celebration, “New Year’s Eve Under the Stars.” The event brought together prominent business leaders, influencers, and local patrons, highlighting the hotel’s ability to curate large-scale, world-class experiences and position itself as a premium lifestyle destination in the region.

Commenting on the opening, Tushar Nagar, General Manager, Hyatt Place Butwal, said, “The overwhelming response to our New Year’s Eve celebration reflects that Butwal is ready for a premium hospitality and lifestyle experience. With improving air connectivity and a rapidly expanding industrial base, the need for international-standard accommodation has grown significantly. Hyatt Place Butwal aims to bridge this gap while supporting the region’s evolving business and tourism ecosystem.”

Strategically located at the intersection of the Mahendra Highway (Asian Highway) and the Siddhartha Highway, Butwal is transforming from a transit town into a commercial and industrial powerhouse. Its strategic highway access, growing industrial zones, and international air connectivity position the city as a key connector for trade, tourism, and transit in western Nepal.

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