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.