indian hotel performance
All Eyes on India: Why the World Is Watching
HotStats | September 20, 2024
With over two and a half decades in the hospitality industry, my experience spans markets that have attracted both international interest and domestic excitement. The initial Dubai buzz in 1999, following the opening of Burj Al Arab, made a powerful statement and set off a wave of impressive assets in quick succession. While recent years have brought magnificent hotels like Atlantis the Royal, the true sweet spot for me was about 15 years ago when each visit to Dubai revealed a dramatically changing landscape. Vietnam also experienced a boom, with signings happening almost weekly, though this momentum faded faster than expected due to corr...
HVS ANAROCK Hotels & Hospitality Overview, May 2024
Akash Datta | May 29, 2024
By Akash Datta, Dipti Mohan, Dhwani Gupta 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 April 2024, domestic air passenger traffic in India reached 132 lakhs, marking a 2.4% increase compared to April 2023. Goa witnessed the largest year-on-year decline in occupancy rate, while Kolkata registered the highest growth during the month. Hyderabad showed the highest year-on-year ADR growth among the top 10 markets in the country, followed by Chennai. After a long hiatus, Mumbai recorded ...
HVS ANAROCK Hotels & Hospitality Overview, March 2024
Akash Datta | April 1, 2024
By Akash Datta, Dipti Mohan, Dhwani Gupta 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: India’s domestic air passenger traffic grew by nearly 5% year-on-year in February 2024. Nationwide hotel occupancy rate is nearing pre-pandemic levels, with key markets like Delhi, Mumbai, and Chennai reporting occupancy rates of more than 80% during the month. There was a notable year-on-year spike in average hotel rates across the country in February 2024, particularly in Delhi and Hyderabad, where...
Indian Hospitality Sector – 2023 in Review
Mandeep S Lamba | December 18, 2023
By Mandeep S. Lamba, Dipti Mohan, Dhwani Gupta The year 2023 unfolded as a dynamic chapter for the global hospitality sector, characterized by a blend of challenges and successes. While the world grappled with extreme climate events, escalating geopolitical tensions, growing economic headwinds, and rising travel costs, the global travel industry witnessed a resurgence. According to the United Nations World Tourism Organization (UNWTO), the first nine months of 2023 recorded a remarkable 38% increase in international tourist arrivals (ITAs) compared to the previous year, albeit trailing by a modest 13% from the 2019 levels. The Middle East...
HVS ANAROCK Hotels & Hospitality Overview, November 2023
Akash Datta | December 1, 2023
By Akash Datta, Dipti Mohan, Dhwani Gupta 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 heigh...
HVS ANAROCK Hotels & Hospitality Overview, September 2023
Akash Datta | September 28, 2023
By Akash Datta, Dipti Mohan, Dhwani Gupta 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 August 2023, domestic air passenger traffic grew by nearly 23% year-on-year, marking the sixth consecutive month that domestic air traffic in the country has surpassed pre-COVID levels. Country-wide occupancy remained at similar levels from the previous month, indicating demand normalization. India-wide average rates are rising steadily, with a year-on-year growth of 13-5% in August 2023. Even be...
Indian Hotel Sector – 2022 Performance Review
Akash Datta | January 31, 2023
By Akash Datta, Dipti Mohan The strong recovery in 2022 brought much relief to a sector devastated by COVID-19. The quick retraction of onerous COVID-19 policies, released the much pent-up demand in the market, making it the single biggest reason for a strong recovery. While occupancy remained slightly 5-7 percentage points (pp) lower than the full year 2019, in large part due to the much lower-than-expected Q1 2022, ARRs for 2022 recovered fully, crossing 2019 levels by almost 1-3%, in large part due to strong ARRs in Q4 2022. Similar to 2021, domestic travel was responsible for the strong recovery in demand. Buoyed by segments such as we...
HVS Monday Musings: Indian Hotel Sector – 2021 Performance Review
Mandeep Lamba | January 31, 2022
By Mandeep Lamba, Dipti Mohan Following an abysmal performance in 2020, the Indian hotel sector found some much-needed hope in 2021, as it made steady headway on the road to recovery. The year began on a promising note with the commencement of the vaccination program, which, combined with a decrease in COVID cases, improved travel sentiment in the country. Domestic leisure travel drove the recovery throughout the year, with business travel also picking up as most businesses and organizations returned to a full or hybrid work-from-office model. Additionally, weddings and social events, as well as the resurgence of small-to-medium-...
