HVS Anarock published its monthly newsletter ‘H2O’ for July 2024. The interactive newsletter revealed the following trends in Indian hospitality:
- In June 2024, domestic air passenger traffic grew by nearly 6% year-on-year.
- Kochi registered the highest increase in occupancy rate, growing by 7 pp year-on-year, a notable rise compared to other cities.
- Meanwhile, both Hyderabad and Mumbai experienced declines in year-on-year occupancy rates, ranging from 1-3 pp. Both cities, however, saw substantial increases in average rates, with Hyderabad leading with over 9% year-on-year
- During the month, Goa and Kolkata were the only markets to experience declines in average rates when compared to June 2023, with Kolkata’s rates dropping by nearly 6% from May 2024.
