India Hotel Performance
HVS ANAROCK Hotels & Hospitality Overview, August 2024
Akash Datta | August 30, 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: July 2024 saw a year-on-year growth of over 7% in domestic air passenger traffic in India. Nationwide occupancy rates increased by 3-5 percentage points year-on-year during the month, although they remained slightly below pre-pandemic levels. Pune and Chennai registered the highest occupancy rates for the month, ranging from 76-79%. Meanwhile, Kolkata, New Delhi, and Chandigarh led the growth in occupancy, each showing an increase of 6-8 percenta...
Experiential Hotels – Pioneering a New Era in the Indian Travel Industry
Mandeep S. Lamba | October 9, 2023
By Mandeep Lamba, Dipti Mohan, Dhwani Gupta The Indian travel industry is undergoing a remarkable transformation, shaped by shifting traveler preferences towards unique, experiential, and immersive journeys. Gone are the days of simply seeking out the most luxurious resorts, today's travelers are in pursuit of something more enriching – a treasure trove of experiences that range from heart-pounding adventure sports and active tourism to immersing oneself authentically in the local culture – all of which satisfy the desire for continuous personal growth and learning. This change has given rise to the concept of experiential hotels, whic...
Cautious Optimism in India’s Hotel Performance Recovery
STR | February 22, 2023
India’s hotel industry turned in a stellar 2022 with revenue per available room (RevPAR) 100% recovered to pre-pandemic levels even with a devastating start to the year caused by a surge in the Omicron variant. Steeper declines, sharper inclines Recovery of RevPAR was more driven by average daily rate (ADR), which indexed at 108 when compared with 2019 levels. However, occupancy recovery was strong as well with an index of 93. Overall, the full recovery of RevPAR means indexing won’t be needed much longer as year-over-year percentage changes become actionable again once the calendar is beyond the Omicron comparables. ...
India Update: Societal Change Provides Hoteliers With Plenty of Optimism and Opportunity
STR | October 10, 2022
The world regions that have experienced the most significant hotel performance recovery to date are now faced with similar challenges. Most of those challenges stem from economic uncertainty. In India, there are certainly challenges, but there are also unique factors driving optimism and opportunity. Specifically, overall societal change is presenting India’s travel and tourism industry with temptations not seen for some time. Can government stability be key to long-term growth? Government alignment with the travel industry is never straightforward, but the imminent release of an official, updated tourism policy will focus o...
India Hotel Performance Continues to Eclipse Pre-Pandemic Levels
STR | May 17, 2022
India’s hotel performance recovery resumed early in 2022, but April seemed to be the turning point with the country outpacing pre-pandemic comparables in occupancy and average daily rate (ADR) for three consecutive weeks. Leisure markets have continued to lead recovery, but business travel is also back in the country post-Omicron. Forward bookings also appear to be healthy for the remainder of May with most pickup remaining short-term. 20 straight days above pre-pandemic comparables Running 7-day occupancy and ADR had been trending at 90% or better of 2019 levels since the latter portion of March, with occupancy eclipsing pre...
Chandigarh – the Emerging Hospitality Hotspot in India
Mandeep S. Lamba | January 17, 2022
By Mandeep Lamba, Dipti Mohan Chandigarh, also popularly known as the Tri-city region, is quickly becoming the new hospitality hotspot in India. Following the second wave, Chandigarh's hotel sector has recovered quicker than several other markets in the country, with occupancy rates rising from a low of around 15% in May 2021 – the peak of the second wave – to close to 70% by November 2021, comparable to pre-pandemic levels. Since the second wave ebbed, the Tri-city region, along with Goa, has had the highest month-on-month occupancy in the country. Moreover, in contrast to numerous other Indian business destinations, average...
India’s Different, Second Recovery
STR | August 30, 2021
India’s progressive approach to vaccinations has led to an increase in travelers and hotel demand, especially in the leisure segment. Beyond the noticeable improvement, however, the country is showing a different trend in which markets are regaining occupancy. As noted in a recent press release, India’s recovery after the first COVID-19 wave was concentrated in leisure destinations such as Goa and Udaipur. But in this latest round of recovery, heavily populated markets and metro cities such as New Delhi and Mumbai have seen much improvement. Performance timeline India’s monthly occupancy reached a pandemic-era high in...
