HVS ANAROCK Hotels & Hospitality Overview, October 2023
This is a monthly industry update that highlights the key trends in the Indian hospitality industry.
Photo by HVS
Read the latest edition of the HVS ANAROCK monthly industry update, Hotels & Hospitality Overview (H2O), for the key trends in the Indian hospitality industry.
Key highlights include:
- In September 2023, the country-wide occupancy rate fell short of the levels observed during the same period in 2022 and 2019.
- Five of the top ten key markets experienced a year-on-year decline in monthly occupancy rates, even as the average rates continued to increase.
- New Delhi enjoyed a boost in average rates during the month, thanks to the G20 Summit, with average rates exceeding INR 11,000, showcasing a remarkable year-on-year growth of over 60%.
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.