• HVS Anarock India Hospitality Industry Review December 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:

  • In November 2023, domestic air passenger traffic in India recorded a 9% year-on-year increase.
  • However, the nationwide hotel occupancy rate for the month declined over the same period in the previous year primarily due to the festive season, a trend particularly visible in Pune, Bengaluru, and Mumbai. The exceptional performance of nationwide occupancy in November 2019 before the pandemic, further accentuates the decline seen in 2023.
  • In line with the season, Goa regained its spot at the top with the highest average rates (surpassing INR 12,000) followed closely by Mumbai (also exceeding INR 12,000).
  • Kolkata saw a substantial 30% spike in its average rates from the previous month and a 23% increase compared to November 2022.

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