HVS ANAROCK Hotels & Hospitality Overview, July 2024

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 June 2024, domestic air passenger traffic grew by nearly 6% year-on-year.
  • The nation-wide occupancy remained flat for both the previous month and year-on-year basis.
  • Kochi registered the highest increase in occupancy rate, growing by 7 pp year-on-year, a notable rise compared to other cities.
  • Meanwhile, both Hyderabad and Mumbai experienced declines in year-on-year occupancy rates, ranging from 1-3 pp. Both cities, however, saw substantial increases in average rates, with Hyderabad leading with over a 9% year-on-year increase and Mumbai up by 7%.
  • During the month Goa and Kolkata were the only markets to experience declines in average rates when compared to June 2023, with Kolkata’s rates dropping by nearly 6% from May 2024 as well.
 

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]

 

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