HVS ANAROCK MONITOR, November 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, MONITOR (Monthly Overview of National Industry Trends and Hospitality Report), for the key trends in the Indian hospitality industry.
Key highlights include:
October 2024:
- October 2024 witnessed a nationwide decline in occupancy rates from both the previous year and the previous month.
- On the other hand, nationwide average rates increased by nearly 10% from the previous month and nearly 6% from October 2023.
- Year-to-date (YTD) October 2024 saw strong momentum in hotel signings, with 33,407 keys signed across 333 properties, representing a robust 45% year-on-year growth in keys signed.
- 8,073 keys across 119 properties opened by YTD October 2024, with majority of the openings concentrated in Tier 3&4 markets.
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.