HVS Anarock India Hospitality Industry Review August 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:

• July 2024 saw a year-on-year growth of over 7% in domestic air passenger traffic in India.
• Nationwide occupancy rates increased by 3-5 percentage points year-on-year during the month, although they remained slightly below pre-pandemic levels.
• Pune and Chennai registered the highest occupancy rates for the month, ranging from 76-79%. Meanwhile, Kolkata, New Delhi, and Chandigarh led the growth in occupancy, each showing an increase of 6-8 percentage points compared to the previous year.
• Average rates saw significant year-on-year increases both nationally and in specific markets. However, Goa was an exception, with rates dropping by 3-5% compared to the previous year, while still remaining above INR 8,500.
• Despite a relatively modest rise in occupancy rates in July 2024, Mumbai continued to record the highest average rates, exceeding INR 10,500 – a 21-23% increase from the previous year.

Click here (Adobe Acrobat PDF file) to download the review.