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.
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