Tag Archives: HVS Anarock

HVS Anarock in its ‘Hotels & Hospitality Overview’ of June stated that Kochi registered the highest increase in occupancy rate, growing by 7% year-on-year, a notable rise compared to other cities. Meanwhile, both Hyderabad and Mumbai experienced declines in y-o-y occupancy rates but saw substantial increase in average rates, with Hyderabad leading with over a 9% y-o-y increase and Mumbai up by 7%.

As per HVS Anarock, total air traffic in India reached 370 million in 2023, a 26 per cent increase over 2022. This includes 303 million domestic air traffic, and 66.6 million international air traffic, and 9.2 million foreign tourist arrivals. Fueled by favorable demographics, and increased investments both leisure and business travel increased in the country.  

The ‘Hotels & Hospitality Overview,’ a report by HVS Anarock states that the hotel occupancy rate in India is nearing pre-pandemic levels, with key markets like Delhi, Mumbai, and Chennai reporting occupancy rates of more than 80% in February. The average hotel rates grew by 17-18% in Delhi and Hyderabad, in February 2024.

The recently released report by HVS ANAROCK states that inbound tourism in India marks remarkable 55% year-on-year growth, with 7.2 million foreign tourist arrivals from January to October 2023, showing positive signs of recovery. It also mentions it is just 16% short of 2019 levels.

In September 2023, country-wide occupancy rate fell short of the levels recorded during the same period in 2022 and 2019. This was one of the key highlights of HVS ANAROCK Hotels & Hospitality Overview, October 2023 report.

HVS ANAROCK’S latest monthly newsletter titled ‘Hotels and Hospitality Overview’ states that brand openings and signings (by property) increased marginally in the first half of 2021 compared to last year. During this period, 19 hotels (14 in H1 2020) were opened and 49 hotels (46 in H1 2020) were signed. Hotel operators signed smaller hotels with increased focus on tier-III and IV cities.

In its monthly overview of the hotels and hospitality sector, HVS ANAROCK reveals that while hotel occupancy in most cities witnessed month-on-month decline in May due to restrictions and lockdowns in various states, Mumbai, Ahmedabad and Chennai observed the highest occupancy in the country (31-35%) during the month.

HVS ANAROCK’s monthly report titled ‘Hotels & Hospitality Overview’ reveals that in the month of January 2021, Ahmedabad, Kolkata and Goa witnessed the highest increase in occupancy compared to the previous month. In fact, for the Indian hotel sector, occupancy remained between 46-48% on average, almost a 2% growth over December 2020.

HVS ANAROCK’s latest report titled ‘Room for Growth’ states that the three Indian cities (Bengaluru, Delhi-NCR and Mumbai), though still underpenetrated, have been performing at par with other Asian cities, especially on the occupancy front. As for RevPAR, Bengaluru is in the same range as Beijing and Shanghai.

Mandeep Singh Lamba, President (South Asia), HVS ANAROCK, has said, “Our prediction is that we should reach pre-pandemic occupancy level around the 3rd quarter of 2022, and RevPar level at 3rd quarter of 2023. Bounce back will start in the middle of next year. As standards of medical fraternity will rise somewhere in the next year, most of the people will be inoculated and hopefully some vaccine will be there,” he said at a recent webinar.