India-wide occupancy likely to reach 66% in 2023, RevPAR 18% higher than 2019: HVS

Mandeep Singh Lamba President (South Asia) HVS ANAROCK said, “We expect India-wide occupancy to improve to 66% in 2023 coupled with a 16-17% increase in ARR will push RevPAR to ₹4,690 during the year, almost 18% higher than the pre-pandemic RevPAR recorded in 2019.”