HVS ANAROCK Hotels & Hospitality Overview, September 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 13.1 million in August 2024, marking a year-on-year (y-o-y) growth of over 5.7%.
- The nationwide hotel occupancy rate maintained a stable position compared to pre-pandemic levels, with Kochi and Hyderabad leading the pack with the highest y-o-y growth in occupancy rates.
- Average rates increased across most markets, driven by strong demand recovery and enhanced pricing power in the hospitality sector.
- Mumbai recorded the highest y-o-y growth in average rates, followed closely by Hyderabad and Kochi while Goa remained range bound.
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