Kamat Hotels Expects 10% Overall Growth In FY19
Kamat Hotels Ltd. expects to clock overall growth of 10 percent by March and benefit from demand outpacing supply in the Indian hotel industry.
“There is a large gap between demand and supply which comes in spurts,” said Vishal Kamat, director of the hospitality firm, said in an interview to BloombergQuint. “The existing players are already getting benefits (due to greater demand) in terms of higher occupancy levels and average room rates.”
Supply of rooms in the hospitality sector is projected to grow at 7 percent over 2018-22, according to a recent Horwath HTL report. The supply mix will shift towards the mid-scale segment, according to the report, which was previously underpenetrated by chain-affiliated hotels due to strong demand from domestic suppliers.
Watch the full interview here: