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 137 lakhs in May 2024, marking a growth of over 4% compared to May 2023.
- Despite the increase in air traffic in May 2024, the nationwide hotel occupancy rates remained stable.
- Kochi saw the highest year-on-year increase in occupancy rates in May 2024, with a rise of 7-9 pp. However, the average rates in the city declined by 10-12 pp.
- Hyderabad exhibited a stark divergence between occupancy and ADR changes. While the occupancy rate saw the largest drop of 3-5 pp, the city’s ADR experienced the highest increase rate at 12-14%.
- While year-on-year occupancy increased by 1-3 pp, Goa witnessed a decline in average rates by 9-11% during the same period.
