HVS ANAROCK Hotels & Hospitality Overview, June 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:
- Domestic air passenger traffic continued to increase, surpassing 137 lakhs in May 2024, marking a growth of over 4% compared to May 2023.
- Despite the increase in air traffic in May 2024, the nationwide hotel occupancy rates remained stable.
- Kochi saw the highest year-on-year increase in occupancy rates in May 2024, with a rise of 7-9 pp. However, the average rates in the city declined by 10-12 pp.
- Hyderabad exhibited a stark divergence between occupancy and ADR changes. While the occupancy rate saw the largest drop of 3-5 pp, the city’s ADR experienced the highest increase rate at 12-14%.
- While year-on-year occupancy increased by 1-3 pp, Goa witnessed a decline in average rates by 9-11% during the same period.
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.
