HVS Anarock published its monthly newsletter ‘H2O’ for June 2024. The interactive newsletter revealed the following trends in Indian hospitality:
- 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.
- Domestic air passenger traffic continued to increase, surpassing 137 lakhs in May 2024, marking a growth of over 4% compared to May 2023.
- 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.
