Hotel Leela and TAJGVK Hotels were up 15 per cent and 11 per cent, respectively, while Royal Orchid Hotels, Oriental Hotels, EIH and Lemon Tree were up in the range of 3 to 5 per cent.
With high cost of land and limited avenues of financing, the room supply growth is expected to moderate to 7.9 per cent CAGR over the next three-four years.