Skift India Report: Hotels Hit Rocketship Growth in the Second Quarter
Photo Credit: Revenue per available room grew 13-15% during the second quarter. Wikimedia / Augustus Binu
Skift Take
Demand drivers such as the G20 Summit, ICC Cricket World Cup 2023, wedding season and international tourist arrivals will continue to boost the demand for rooms.
We read HVS Anarock’s Hotels & Hospitality Overview report for the second quarter and this is what we found out about the Indian hotel industry.
Despite a drop of 1 to 3 percentage points in occupancy in the second quarter, the average daily rate experienced 16-18% growth and the revenue per available room grew 13-15%, compared to the same period last year.
Mandeep S. Lamba, president of South Asia at HVS Anarock attributed this robust double-digit growth to two factors:
Strong demand in the leisure segment Recovery in corporate travel and meetings, incentives, conferences, and exhibitions Source: HVS Anarock Hotels & Hospitality Overview, July 2023City-wise Performance: Except New Delhi, Kolkata, Mumbai, Chennai and Kochi, all other cities in the country showed a decline in occupancy levels in June. The cities which performed poorly, as per the report, are Chandigarh, Pune and Bengaluru.
“Demand patterns are
