Hospitality industry scores big as IPL 2024 drives demand

The Indian Premier League (IPL) 2024 is boosting hospitality industry as cricket fans visit stadiums to support their teams, increasing hotel room tariffs in host cities. “Hotel tariffs are witnessing a surge of approximately 20 per cent as compared to last year, with hotel occupancy, especially for significant matches already over 80 per cent,” said Rajeev Kale, President & Country Head, Holidays, M!CE, Visa, Thomas Cook (India).  Elara Securities said in its preview of the upcoming fourth quarter that the IPL was one of the major events of the quarter and would propel ARR growth in the industry.