HVS ANAROCK Hotels & Hospitality Overview, October 2023
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 September 2023, the country-wide occupancy rate fell short of the levels observed during the same period in 2022 and 2019.
- Five of the top ten key markets experienced a year-on-year decline in monthly occupancy rates, even as the average rates continued to increase.
- New Delhi enjoyed a boost in average rates during the month, thanks to the G20 Summit, with average rates exceeding INR 11,000, showcasing a remarkable year-on-year growth of over 60%.
About HVS
HVS is the world's leading consulting and valuation services organization focused on the hotel, restaurant, shared ownership, gaming, and leisure industries. Established in 1980, the company performs more than 4,500 assignments per year for virtually every major industry participant. HVS principals are regarded as the leading professionals in their respective regions of the globe. Through a worldwide network of over 50 offices staffed by 300 experienced industry professionals, HVS provides an unparalleled range of complementary services for the hospitality industry. For further information regarding our expertise and specifics about our services, please visit www.hvs.com.
