MUMBAI: Mumbai, the financial hub of India tops the list of cities with the highest room rate in Asia-Pacific. An Asia Pac survey by Deloitte shows that average room rates in Mumbai stood at $253 for the first six months of 2007, followed by Singapore at $160 and Phuket at $149.
While demand for rooms have risen sharply in metro cities in the country, the supply has only marginally increased in these cities. This has led to a sharp upswing in room rates in Mumbai, Delhi and Kolkata. This shortage of room supply will continue for the next 3-4 years and the metro cities will see a 30-35% increase in average rate in the current fiscal, according to industry estimates.
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Monday, September 24, 2007
Mumbai tops Asia-Pacific in hotel room rate
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