HVS ANAROCK Hotels & Hospitality Overview, June 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:

  • 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.

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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