HVS ANAROCK Hotels & Hospitality Overview, November 2023

This is a monthly industry update that highlights the key trends in the Indian hospitality industry.
Akash Datta 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 October 2023, India witnessed a notable 11% increase in domestic air passenger traffic compared to the corresponding period in the previous year.
  • The onset of the ICC Men's Cricket World Cup in the country significantly bolstered hotel occupancy in various markets hosting the matches.
  • Consequently, national hotel occupancy rates for October 2023 exceeded pre-pandemic levels by 1-3 pp.
  • The heightened demand also contributed to a continual upward trajectory in average rates, particularly in the key markets hosting the cricket matches, where rates saw a year-on-year escalation ranging from 15% to 33%.
  • Goa, conversely, saw a rise of only 1-3%, exhibiting the impact of large sporting events.
 

About Akash Datta

Akash Datta, HVS Senior Vice President - Consulting and Valuation, leads consulting engagements, encompassing market studies, feasibility studies, strategic planning, valuation, and forecasting. Akash has spent nearly 13 years in the hospitality industry having successfully worked with International Hotel and Consulting firms such as Hilton, JLL and HVS in South Asia and the Middle East. In 2005, Akash started his Consulting career with HVS as an analyst following which he undertook his MBA in International Hospitality Management with concentration in Real Estate Finance from IMHI ESSEC in Paris, France. Known for his industry insights, Akash works with leading companies, private clients, industry groups, and global networks. Contact Akash at +91 989 9517 404 or [email protected].
 

About Dipti Mohan

Dipti Mohan, Associate Vice President - Research with HVS South Asia, is a seasoned knowledge professional with extensive experience in research-based content creation. She has authored several ‘point of view’ documents such as thought leadership reports, expert opinion articles, white papers, and research reports across industries including hospitality, real estate, infrastructure, cement, and construction. Contact Dipti at [email protected]

About Dhwani Gupta

Dhwani Gupta, Associate - Research with HVS South Asia, studied literature for her undergraduate and believes that you can do anything with the right amount of research. After graduating, she pursued a course in Management and Liberal Arts which gave her a wider perspective of the world. As a result, the more difficult a topic is, the more fun she has writing it. Contact Dhwani at [email protected]

 

0 Comments

Submit a Question or Comment