Demand for hotel rooms in India grew 20% in October, the highest in five years, driven by increase in business-related travel, according to data compiled by hospitality data aggregator STR Global. According to STR Global's report, hotels have reported double-digit growth in both occupancy and RevPAR (revenue per available room) for October — while occupancy increased by 15% from the year-ago month to 62.8%, RevPAR grew by 13.6% to Rs3,683.
Budget hotel site Oyo Rooms (Oravel Stays Pvt. Ltd) has expressed interest in buying smaller rival Zo Rooms, which is scrambling to raise a fresh round of funds in order to avoid being sold, three people familiar with the matter said.
While domestic hospitality major Sarovar Hotels & Resorts Group is open to its PE investors “flipping” their stake with the US-based Wyndham Hotel Group, it would do so only if it gets an enterprise value of ₹400 crore.