HVS ANAROCK Hotels & Hospitality Overview, September 2023
By Akash Datta, Dipti Mohan, and Dhwani Gupta
Read the latest edition of the HVS ANAROCK monthly industry update, Hotels & Hospitality Overview (H2O), for the key trends in the Indian hospitality industry.
Photo by HVS
Key highlights include:
- In August 2023, domestic air passenger traffic grew by nearly 23% year-on-year, marking the sixth consecutive month that domestic air traffic in the country has surpassed pre-COVID levels.
- Country-wide occupancy remained at similar levels from the previous month, indicating demand normalization.
- India-wide average rates are rising steadily, with a year-on-year growth of 13-5% in August 2023.
- Even before the G20 Summit, the New Delhi hotel market witnessed the highest growth in average rates.
About HVS
HVS, the world's leading consulting and services organization focused on the hotel, mixed-use, shared ownership, gaming, and leisure industries, was established in 1980. The company performs 4,500+ assignments each year for hotel and real estate owners, operators, investors, banks and developers worldwide. HVS principals are regarded as the leading experts in their respective regions of the globe. Through a network of some 60 offices and more than 300 professionals, HVS provides an unparalleled range of complementary services for the hospitality industry. hvs.com.