HVS ANAROCK Hotels & Hospitality Overview, March 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.
Key highlights include:
- India’s domestic air passenger traffic grew by nearly 5% year-on-year in February 2024.
- Nationwide hotel occupancy rate is nearing pre-pandemic levels, with key markets like Delhi, Mumbai, and Chennai reporting occupancy rates of more than 80% during the month.
- There was a notable year-on-year spike in average hotel rates across the country in February 2024, particularly in Delhi and Hyderabad, where rates grew by 17-18%.
- Reflecting the industry's optimism, key hotel stocks have seen substantial growth, with their prices soaring by 50-160% year-on-year.
About HVS
HVS is the world's leading consulting and valuation services organization focused on the hotel, restaurant, shared ownership, gaming, and leisure industries. Established in 1980, the company performs more than 4,500 assignments per year for virtually every major industry participant. HVS principals are regarded as the leading professionals in their respective regions of the globe. Through a worldwide network of over 50 offices staffed by 300 experienced industry professionals, HVS provides an unparalleled range of complementary services for the hospitality industry. For further information regarding our expertise and specifics about our services, please visit www.hvs.com.
