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Opinion Article Markets & Performance

HVS ANAROCK Hotels & Hospitality Overview, May 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.

Dipti MohanAkash DattaDhwani Gupta
By Dipti Mohan, Akash Datta, and Dhwani Gupta
India
HVS ANAROCK Hotels & Hospitality Overview, May 2024

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:

  • In April 2024, domestic air passenger traffic in India reached 132 lakhs, marking a 2.4% increase compared to April 2023.
  • Goa witnessed the largest year-on-year decline in occupancy rate, while Kolkata registered the highest growth during the month.
  • Hyderabad showed the highest year-on-year ADR growth among the top 10 markets in the country, followed by Chennai.
  • After a long hiatus, Mumbai recorded higher average rates than Goa, exceeding INR 10,000 and INR 9,500 respectively.

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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