IN TANDEM with its evolution to an independent micro-market separate from New Delhi, Gurgaon achieved the highest RevPAR in the five-star hotel segment nationally last year.
According to STR Global, Gurgaon reported RevPAR of Rs7,200 (US$133) in 2012, which is 22 per cent and 27 per cent higher than rates in Mumbai and Bengaluru respectively. Gurgaon’s hotel market was also one of the few that did not see a dramatic performance decline during the economic downturn.
Furthermore, occupancy levels at four- and five-star hotels rose significantly in 2012, bumping up RevPAR from Rs6,000 in 2011 to Rs6,100 in 2012, reported STR.
Currently, there are 4,000 branded rooms in the city’s hotel inventory, with 4,500 more in the pipeline, according to Jones Lang LaSalle (JLL). More than half of future rooms fall within the midscale and budget category.
Gurgaon has benefited from corporate investments flowing into the city, infrastructure developments and its close proximity to Indira Gandhi International Airport in New Delhi.
JLL Hotels & Hospitality Group’s executive vice president, Sudeep Jain, said: “We are, for the first time in the Indian hospitality market, starting to witness assets being offered for sale, with a transparent and defined process to sell them.”
“Looking ahead, we expect that the upcoming supply in the (Delhi International Airport) hospitality district will have minimal impact on the Gurgaon market,” Jain added.
“A large portion of the corporate sector prefers to work and stay in Gurgaon, as it develops into a separate micro-market.”