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Opinion Article Markets & Performance

HVS ANAROCK Hotels & Hospitality Overview, June 2023

Check out the June 2023 edition of the HVS ANAROCK monthly industry update, Hotels & Hospitality Overview (H2O), for the key trends in the Indian hospitality industry.

Dipti MohanAkash DattaDhwani Gupta
By Dipti Mohan, Akash Datta, and Dhwani Gupta
India
HVS ANAROCK Hotels & Hospitality Overview, June 2023

Photo by HVS

Key highlights include:

  • Despite the halt in operations of Go First Airlines, the number of domestic air passengers in India has been steadily surpassing the pre-COVID levels. In May 2023, domestic air traffic increased by 15% year-on-year, crossing the 1.3 cr mark for the first time since December 2019.
  • The occupancy rates in the country have witnessed a minor decline year-on-year indicating that demand is normalizing.
  • The average rates, on the other hand, continued their strong growth trend and remained significantly above the pre-pandemic levels.

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Markets & Performance Asia Pacific India
Dipti Mohan
Dipti Mohan
Associate Vice President – Research, New Delhi, HVS

Dipti Mohan, Associate Vice President – Research with HVS South Asia, is a seasoned knowledge professional with extensive experience in research-based content creation.

Akash Datta
Akash Datta
Senior Vice President - Consulting & Valuation, New Delhi, HVS

Akash Datta, HVS Senior Vice President - Consulting and Valuation, leads consulting engagements, encompassing market studies, feasibility studies, strategic planning, valuation, and forecasting. Akash has spent nearly 13 years in the hospitality industry having successfully worked with International Hotel and Consulting firms such as Hilton, JLL and HVS in South Asia and the Middle East.

Dhwani Gupta
Dhwani Gupta
Associate - Research, HVS South Asia, HVS

Dhwani Gupta, Associate - Research with HVS South Asia, studied literature for her undergraduation and believes that you can do anything with the right amount of research.

HVS
Consultant

HVS is the world's leading consulting and services organization focused on the hotel, restaurant, shared ownership, gaming, and leisure industries. Established in 1980, the company performs more than 2,000 assignments per year for virtually every major industry participant. HVS principals are regarded as the leading professionals in their respective regions of the globe.

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