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By Author
Published on January 22, 2024
International tourism is poised to make a remarkable comeback in 2024, signaling a return to pre-pandemic levels, according to the latest findings from the UNWTO (United Nations World Tourism Organization). Building on a robust 2023, where international tourism reached 88% of pre-pandemic levels, the sector is expected to witness a complete resurgence by the end of this year.
The UNWTO World Tourism Barometer for the beginning of this year revealed that the Middle East emerged as the front-runner in the recovery race, surpassing pre-pandemic levels by 22%. Europe, the world's most visited region, closely followed, achieving 94% of its 2019 figures. Africa was not far behind, boasting an impressive 96% recovery, while the Americas reached the 90% mark.
In contrast, Asia and the Pacific reported a 65% recovery of pre-pandemic levels. However, within this region, South Asia outshone others by already achieving an 87% recovery, while North-East Asia lagged at approximately 55%.
The UNWTO highlighted notable growth in various destinations, both established and emerging, with some reporting double-digit increases in international arrivals in 2023 compared to 2019. Noteworthy sub-regions that exceeded their 2019 arrival levels included Southern Mediterranean Europe, the Caribbean, Central America, and North Africa.
Underscoring the economic significance of the recovery, the UNWTO reported that international tourism receipts reached an estimated USD 1.4 trillion in 2023, marking 93% of the earnings recorded in 2019. Total export revenues from tourism, including passenger transport, are estimated at USD 1.6 trillion, almost 95% of the figures recorded in 2019. Preliminary estimates indicate that tourism's contribution to global GDP, measured in tourism direct gross domestic product (TDGDP), reached USD 3.3 trillion in 2023, constituting 3% of the global GDP.
The sustained recovery is also reflected in industry indicators. According to the UNWTO Tourism Recovery Tracker, international air capacity and passenger demand both recovered about 90% of pre-pandemic levels through October 2023, as reported by IATA. Global occupancy rates in accommodation establishments reached 64% in November, slightly above the 62% recorded in September 2022, based on STR data.
With a positive outlook for 2024, the UNWTO predicts a full recovery to pre-pandemic levels, with initial estimates pointing to a 2% growth above 2019 levels. The UNWTO Tourism Confidence Index survey reflects this optimism, with 67% of tourism professionals anticipating better prospects for 2024 compared to 2023.
However, challenges persist on the horizon, including economic and geopolitical headwinds. Travelers are expected to prioritize value for money, sustainability, and proximity in their choices.
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By Manu Vardhan Kannan
Published on August 18, 2025
Apeejay Surrendra Park Hotels Limited (ASPHL) announced its financial results for Q1 FY26, recording a net profit of Rs 13 crore. Revenue from operations stood at Rs 154 crore, a 14% increase year-on-year, while operating EBITDA grew 16% YoY to Rs 45 crore. The company maintained an industry-leading occupancy of 92%, reaffirming its leadership in the hospitality sector.
ASPHL’s growth is fueled by expansion into Tier 2 and Tier 3 markets. The company recently signed an MoU to acquire and manage four leisure properties in Goa, Manali, Shimla, and Dharamshala, adding 138 rooms under its brand. These steps align with ASPHL’s strategy to broaden its presence in high-potential tourism destinations and double its key count to 5,750 over the next five years.
Flurys, ASPHL’s iconic bakery and confectionery brand, now operates 102 outlets nationwide, reflecting the company’s focus on expanding its market presence while integrating modern amenities with rich cultural heritage.
Commenting on the performance, Vijay Dewan, Managing Director, Apeejay Surrendra Park Hotels, said,
"We have delivered an extraordinary and best-ever Q1, setting a strong momentum for the year ahead. With topline growth of 14% and EBITDA growth of 16%, we recorded India’s highest occupancy of 92% and maintained leadership in RevPAR in the upper-upscale segment. ARR improved by 13% and RevPAR increased by 12%. With nearly 600 new rooms added, including a 41% rise in our asset-light model, and nationwide Flurys rollout, we are poised to scale faster, enhance margins, and deliver exceptional shareholder value."
ASPHL’s strong performance in Q1 FY26 underscores its strategic focus on market expansion, operational excellence, and premium guest experiences.
Published on August 10, 2025
Marriott International, Inc. has declared a quarterly cash dividend of 67 cents per share on its common stock, reaffirming its commitment to delivering shareholder value. The dividend will be paid on September 30, 2025, to shareholders who are on record as of August 21, 2025.
Alongside the dividend announcement, the hospitality giant also revealed an expansion of its share repurchase program. The board of directors has authorized the repurchase of an additional 25 million shares of its Class A common stock. This comes in addition to the approximately 7.4 million shares that were still available under previous authorizations as of July 30, 2025.
Marriott has already bought back 6.4 million shares this year, amounting to $1.7 billion. These moves reflect the company’s continued confidence in its financial stability and long-term performance, aiming to strengthen shareholder value through strategic capital allocation.
Published on August 4, 2025
In what was intended to be a smooth digital transformation, postal services across the Chennai Circle continue to remain disrupted even days after a scheduled upgrade to India Post's new IT 2.0 system. The software transition—part of a broader effort to modernize the nation’s postal network—was implemented on August 2nd and 4th across Chennai North and South divisions. However, officials have now confirmed that technical issues still persist, leaving customers and businesses grappling with delayed or inaccessible services.
Key services such as Speed Post, registered mail, parcel bookings, and money orders have either been significantly slowed or paused altogether in many branches. Despite expectations that systems would normalize post-upgrade, the rollout of the Advanced Postal Technology (APT) system has proven more complex than anticipated.
“We are still working on stabilizing the system. There have been unforeseen glitches post-upgrade, and our teams are actively resolving them,” said a senior postal official who requested anonymity.
The disruption has raised concerns across industries—including the hospitality sector—where timely document dispatch, license renewals, vendor payments, and customer correspondence are crucial to daily operations.
Experts and industry stakeholders are now calling on India Post to introduce alternative operational strategies or backup mechanisms during such large-scale transitions.
“In a digital age where seamless service is non-negotiable, a complete blackout due to a software update is avoidable. A fallback process, whether manual or cloud-based, should be in place to ensure continuity,” said a Chennai-based hospitality consultant.
The hospitality industry relies heavily on postal services for legal documentation, international communication, and procurement logistics. The ongoing delays have caused bottlenecks not just in operations but also in customer experience delivery.
As authorities continue to work toward a resolution, the broader question remains: Should India’s essential public infrastructure be this vulnerable to a single system upgrade? The answer may lie in future-proofing core services with hybrid digital models that include disaster recovery plans and parallel systems.
Hospitalitynews.in will continue to track updates as the situation evolves.
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