HVS Anarock India Hospitality Industry Review August 2023

August 29, 2023

Unnamed destination in India

HVS Anarock India Hospitality Industry Review August 2023

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 traffic in India increased by 24% in July 2023 compared to the same time the previous year.
  • While air traffic has grown by 1.6% in July 2023 compared to July 2019, the average hotel occupancy rate in the country has declined by 3-5 pp.
  • Hotel average rates, meanwhile, have remained consistently above 2019 levels, despite a drop in occupancy.
  • In July 2023, Chennai was the only market to witness steady growth in both occupancy rate and average rates.

Click here (Adobe Acrobat PDF file) to download the review.

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