Hotel Signings Remain Strong in India Despite Slow May - India Report
Skift Take
The Indian hotels industry signed a total of 146 branded hotels between January and May this year. This was up from 110 branded hotels signed during the same period last year. More than 14,000 keys are now under development, a monthly report by hospitality advisory services firm HVS Anarock showed.
Among the hotels signed during this period are Sofitel Jaipur Jawahar Circle, Vivanta Indore, Gateway Sarnath, and a Taj-branded hotel in Pushkar.
As many as 49 hotels with over 3,000 rooms opened during the period, down from 58 hotels between January and May 2023. These include hotels such as voco Jim Corbett, Park Inn by Radisson Ayodhya, Hyatt Centric Ballygunge Kolkata, Radisson’s Pramod Lands End Resort, Ronil Goa, Radisson Collection Hotel & Spa, Riverfront Srinagar, and Ginger Nagpur.
Key Metrics Decline: The industry witnessed a marginal decline in occupancy from April to May. It was also 1-3 percentage points below May 2019 occupancy levels. Overall, the hospitality industry recorded an occupancy rate of 59-61%.
New Delhi, Chandigarh, Goa, Chennai, Bengaluru, and Kochi witnessed the m
