Tag Archives: ANAROCK

Despite low occupancy, 71% of GMs will not discount rates by over 20%

In order to understand the pulse of the industry amidst these unprecedented times, HVS ANAROCK conducted an anonymous online survey with Hotel General Managers (GMs) in the last week of April 2020. The survey revealed that despite expecting low occupancies, over 71% of the GMs will not discount their rates by more than 20%. Over 42% GMs believe that occupancy would be close to or higher than 50%, while 46% of the GMs believe that occupancy will remain below 40%. The survey revealed that most GMs expect demand to pick up by Q4 2020.

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Hotel sector to see a decline in revenue by INR 90,000 cr in 2020: HVS ANAROCK

The Indian hotels sector has come to a standstill in the last one month, with most of the hotels partially or completely shut. HVS has revised previous estimates of the overall revenue loss that the industry will face in 2020. The overall revenue of the Indian hotels sector is expected to decline by approximately INR 90,000 cr in 2020, reflecting an erosion of 57% compared to last year. RevPARs in the organized segment are expected to decline by approximately 58%. Occupancy is expected to decline by 31.6 per cent. In the organised sector the loss is expected to be INR 40,309 cr; in the semi organised sector the loss is expected to be INR 8,379 cr and in the unorganised sector it is expected to be INR 41,126 cr. The source for the above data is HVS Research as on 17 April 2020. The industry has not witnessed such an unprecedented decline in RevPARs in the last 2 decades, since HVS has been recording this data. The unorganised segment, which is 10 times the size of the organized segment, is also anticipated to witness a similar quantum of decline. COVID-19 is a disruption that nobody anticipated, but it is now time to use the learnings from this disruption and plan for the new realities beyond COVD-19

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2018 saw around 201 signing of branded hotel properties

According to the HVS ANAROCK India Hospitality Review 2018, revealed that over 2016 and 2017, new hotel signings in the country remained in the region of ~170 signings, but in 2018, the industry set a record with signing of 201 hotels containing 19,128 keys, signalling a strong growth in investor sentiment. The branded hotel sector comprises of a collection of around 50 hotel companies, each actively competing to find mind share with hotel owners & developers, who are further looking to either convert or build a new property.

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