HVS Anarock India Hospitality Industry Review January 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 December 2023, India's domestic air travel saw a 6% increase in passenger numbers compared to pre-pandemic figures for the same period.
• The holiday season positively impacted India's hotel sector, with December 2023 monthly occupancy rates reaching pre-pandemic level. Notably, Kolkata and Mumbai achieved occupancy rates exceeding 80%.
• Average rates maintained their upward trend, showing a substantial annual increase of 29-31%.
• Goa led the country with the highest average hotel rates, exceeding INR 14,500, while Kolkata experienced the most significant growth in average rates, surpassing almost 22% in December 2023 from the same period in the previous year.

Click here (Adobe Acrobat PDF file) to download the review.