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.
![HVS ANAROCK Hotels & Hospitality Overview, July 2024— Source: HVS](/picture/xxl_153172170.jpg?t=1722495592)