Chennai records the highest occupancy levels
Chennai has recorded the highest occupancy levels amongst the top six Indian cities. Occupancy level stands at 64 per cent in Chennai.
As per reports, the average room rate in H1 2012 was recorded Rs 4,900 in Chennai, which is an increase of approximately 4 per cent over 2011.
The reason behind this is the throbbing manufacturing and industrial center in the Southern metro. Apart from these dominant sectors, automotive and pharmaceutical conferences are also organised in the city. Due to this, the hotels in Chennai cater to many long stay guests and register stable occupancy rates and room revenues.
The total inventory for the city is 6,187 hotel rooms in H1 2012 of which 92 per cent belongs to the organised sector. The city’s inventory had grown by almost 32 per cent since 2008. Chennai is expected to see an increase of nearly 36 per cent in luxury segment, followed by 20 per cent in the midscale segment and 13 per cent in the budget segment.
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