HVS ANAROCK Hotels & Hospitality Overview, July 2024
Read the latest edition of the HVS ANAROCK monthly industry update, Hotels & Hospitality Overview (H2O), for the key trends in the Indian hospitality industry.
Opinion Articles
HVS Monday Musings: Hotel Sector’s Big Debate - Asset Light or Asset Right?
The Indian Hotels Company Limited (IHCL) has recently been making significant strides in the global hospitality industry. With Brand Finance ranking Taj as the world's strongest hotel brand for the third time recently, and the remarkable growth in the company’s market capitalization, IHCL's ascent into the Top 5 global Hotel Management companies (by market cap) is a testament to its growing global presence and influence. This recognition not only highlights IHCL's success but also places the Indian hospitality market in the global spotlight in line with the country’s ascent among the top 5 global economies.
By Dipti Mohan and Mandeep Lamba
HVS ANAROCK Hotels & Hospitality Overview, May 2024
Read the latest edition of the HVS ANAROCK monthly industry update, Hotels & Hospitality Overview (H2O), for the key trends in the Indian hospitality industry.
A Deep Dive Into Japan’s Hotel ADR Growth Trends
Japan’s growth in hotel revenue per available room (RevPAR) has remained extremely impressive over the past 15 months – a function of a later opening post-pandemic, above-average inflation, and an influx of international demand. That’s largely reflected in average-daily-rate (ADR) growth, although through much of 2023, the first and third points helped drive double-digit occupancy increases as well.
By Kelsey Fenerty, Manager Analytics, STR, CoStar
HVS India Hospitality Industry Overview 2023
This report highlights the key trends in the Indian hospitality industry in 2023 along with the sector performance metrics, brand signings, and brand openings during the year. It also provides our outlook for the sector for 2024.
HVS ANAROCK Hotels & Hospitality Overview, April 2024
Read the latest edition of the HVS ANAROCK monthly industry update, Hotels & Hospitality Overview (H2O), for the key trends in the Indian hospitality industry.
hopeful - an HVS ANAROCK HOPE 2024 special edition
As we unveil this special edition of “hopeful” for the HVS ANAROCK HOPE 2024 conference, it’s a time to reflect on the resilience and vibrant future of India’s hospitality sector. This edition is not just a collection of articles; it’s a beacon of optimism, mirroring the spirit of our magazine’s name.
Roaring Success and Silent Struggles: The Dynamics of Wildlife Tourism in India
Wildlife tourism in India is experiencing a strong comeback, evolving into a luxury experience. Eco-friendly accommodations have been leveraging this growing demand, offering distinctive experiences with minimal ecological impact. Read on to know more.
By Adit Atroley and Dipti Mohan
Indian Hospitality Sector – 2023 in Review
Despite prevailing global challenges, India's economic resilience had a positive ripple effect on the hospitality sector. Read on to know more.
India’s Growing Wedding Market Grandeur
India’s trillion-dollar wedding industry is back, larger and grander than ever before. Fueled by rising income levels, a growing number of high-net-worth individuals, and the charm of celebrity weddings, destination weddings, both domestic and international, are on the rise, which is expected to gain further momentum driven by India’s favorable demographics. Read on to know more.
HVS Monday Musings: Catalysts for Growth – Tech Hubs are Powering the Indian Hotel Industry’s Growth
Tech hubs have globally been a catalyst for the hospitality sector’s expansion. Bengaluru and Hyderabad are prime examples of this trend in India, witnessing unprecedented growth in hotel supply in sync with their booming IT sectors. Read on to know more.
HVS Monday Musings: Spreading Wings Wide – India’s Outbound Travel Market
India's outbound travel sector is witnessing a resurgence, mirroring a trend akin to the pent-up demand that fueled domestic tourism in the last two years. Read on to know more.
HVS In Focus: Singapore
The Republic of Singapore is a metropolitan city-state and island country in Southeast Asia with a total land area of approximately 714.3 square kilometres. It is situated at the southern tip of the Malayan Peninsula, between Malaysia and Indonesia. With an economy supported by its growing population of approximately 5.6 million people, Singapore has witnessed a remarkable record of sustained economic growth throughout the years and bolstered its role as a global commerce, finance and transportation hub.
By Hok Yean Chee, Regional President of HVS Asia Pacific, HVS
HVS Monday Musings: Indian Hotel Sector – H1 2023 Performance Review
Demand patterns in the Indian Hotel sector are normalizing after the severe fluctuations of the past three years. Even though revenge travel is gradually declining, demand in the leisure segment remains strong. Meanwhile, the MICE segment and corporate travel segment are continuing to recover, despite the hybrid work culture, online meetings, and higher airfares slowing the turnaround rate. As a result, the sector witnessed an average nationwide occupancy rate of 63-65% in the first half of the calendar year 2023 (H1 2023), showcasing an increase of 6-8 percentage points (pp) from the same period in 2022. India’s average hotel rates saw a strong increase of 30-32% in H1 2023 compared to H1 2022 and were 21-23% higher than in H1 2019. The steady rise in average rates helped the nationwide RevPAR to reach INR4,650-4,850, reflecting a growth of 46-48% compared to H1 2022.
HVS ANAROCK Hotels & Hospitality Overview, June 2023
Check out the June 2023 edition of the HVS ANAROCK monthly industry update, Hotels & Hospitality Overview (H2O), for the key trends in the Indian hospitality industry.
India’s Budding Amusement & Theme Parks Sector
India's amusement & theme parks industry is still nascent, accounting for only a minuscule global market share, however, demand in this segment is expected to increase in the future. Read on to know more.
HVS ANAROCK India Hospitality Industry Overview 2022
The year 2022 painted a mixed picture for the global hospitality sector. It was the year that travel finally made a comeback after a majority of countries lifted their travel restrictions and most people resumed their pre-pandemic way of life. As a result, travel demand increased significantly across the globe with people trying to make up for the lost time. However, inflation, the Russia-Ukraine war, and the “great resignation” negatively impacted the hospitality business in a few countries. The Indian hospitality sector also witnessed similar trends during the year but was more resilient than some of its global counterparts.
HVS Monday Musings: Indian Hotel Sector – Brand Signings in 2022
Driven by the strong recovery in demand, hotel companies accelerated their growth plans in 2022, resulting in an over 33% rise in brand signings by keys compared to the previous year. During the year, 166 new hotels with 14,885 rooms were signed, while 90 hotels with 5,702 rooms were rebranded.
By Dipti Mohan and Mandeep Lamba
Indian Hotel Sector – 2022 Performance Review
The strong recovery in 2022 brought much relief to a sector devastated by COVID-19. The quick retraction of onerous COVID-19 policies, released the much pent-up demand in the market, making it the single biggest reason for a strong recovery. While occupancy remained slightly 5-7 percentage points (pp) lower than the full year 2019, in large part due to the much lower-than-expected Q1 2022, ARRs for 2022 recovered fully, crossing 2019 levels by almost 1-3%, in large part due to strong ARRs in Q4 2022. Similar to 2021, domestic travel was responsible for the strong recovery in demand. Buoyed by segments such as weddings and events, the hospitality sector continued its unabated growth in ARRs to recover in part the losses of the previous two years. Corporate travel recovered as well, contributing to the overall recovery of the sector.
By Akash Datta and Dipti Mohan
Mumbai’s Hotel Market Revival
The hotel industry in Mumbai, India's financial hub, is, at last, experiencing a sustained recovery, fuelled primarily by a resurgence in corporate travel and large-ticket conferences and events. For instance, the city's occupancy surpassed 80% for the first time since the pandemic thanks to the IPL and some conferences that were held in the city in April and May 2022, and the city hasn’t looked back since.
By Dipti Mohan and Mandeep Lamba