HVS ANAROCK MONITOR, November 2024
Read the latest edition of the HVS ANAROCK monthly industry update, MONITOR (Monthly Overview of National Industry Trends and Hospitality Report), for the key trends in the Indian hospitality industry.
Key highlights include:
October 2024:
- October 2024 witnessed a nationwide decline in occupancy rates from both the previous year and the previous month.
- On the other hand, nationwide average rates increased by nearly 10% from the previous month and nearly 6% from October 2023.
- Year-to-date (YTD) October 2024 saw strong momentum in hotel signings, with 33,407 keys signed across 333 properties, representing a robust 45% year-on-year growth in keys signed.
- 8,073 keys across 119 properties opened by YTD October 2024, with majority of the openings concentrated in Tier 3&4 markets.
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With over 35 offices in the United States, HVS' hospitality intelligence and extensive expertise will help you achieve the results you want. HVS experts are regarded as the leading professionals in their respective regions of the globe. Through a worldwide network of 50 offices staffed by more than 250 experienced industry professionals, HVS provides an unparalleled range of complementary services for the hospitality industry. For further information regarding our expertise and details about our services, please visit hvs.com.
