HVS ANAROCK Hotels & Hospitality Overview, July 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:

• In June 2024, domestic air passenger traffic grew by nearly 6% year-on-year.
• The nation-wide occupancy remained flat for both the previous month and year-on-year basis.
• Kochi registered the highest increase in occupancy rate, growing by 7 pp year-on-year, a notable rise compared to other cities.
• Meanwhile, both Hyderabad and Mumbai experienced declines in year-on-year occupancy rates, ranging from 1-3 pp. Both cities, however, saw substantial increases in average rates, with Hyderabad leading with over a 9% year-on-year increase and Mumbai up by 7%.
• During the month Goa and Kolkata were the only markets to experience declines in average rates when compared to June 2023, with Kolkata’s rates dropping by nearly 6% from May 2024 as well.