HVS ANAROCK Hotels & Hospitality Overview, September 2024
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:
- Domestic air passenger traffic continued to increase, surpassing 13.1 million in August 2024, marking a year-on-year (y-o-y) growth of over 5.7%.
- The nationwide hotel occupancy rate maintained a stable position compared to pre-pandemic levels, with Kochi and Hyderabad leading the pack with the highest y-o-y growth in occupancy rates.
- Average rates increased across most markets, driven by strong demand recovery and enhanced pricing power in the hospitality sector.
- Mumbai recorded the highest y-o-y growth in average rates, followed closely by Hyderabad and Kochi while Goa remained range bound.
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.