AgenciesHotel occupancies in all the major cities witnessed a month on month increase with the revival in leisure travel in June, according to HVS Anarock's latest Hotels & Hospitality Overview report.
Mumbai observed the highest occupancy (51-53%) in June, followed by New Delhi (39-41%), primarily driven by staycation and weekend businesses. All India average occupancies were between 30-32% in June, up by 12-14 percentage points month on month, while average daily rates were up14-16% month on month and were between Rs 3600-Rs 3800.
The report also stated that hotel stocks are seeing an upward trend with Indian Hotels Company (IHCL) outperforming the market in recent months.
Brand openings and signings by properties have increased marginally in 1H21 compared to last year. In 1H21, hotel operators have signed smaller hotels with increased focus on tier three and tier four cities. 19 hotels spanning 1910 keys opened for guests in the first half of this year compared to 14 hotels covering 1361 rooms in the first half of last year. 49 hotels spanning 4401 rooms were signed in the first half of this year, compared to 46 hotels covering 4998 rooms in the first half of 2020.
According to the report, domestic air traffic increased by over 47% in June this year compared to May as travel restrictions started easing across states in India because of the declining Covid cases in the country.
Mumbai observed the highest occupancy (51-53%) in June, followed by New Delhi (39-41%), primarily driven by staycation and weekend businesses. All India average occupancies were between 30-32% in June, up by 12-14 percentage points month on month, while average daily rates were up14-16% month on month and were between Rs 3600-Rs 3800.
The report also stated that hotel stocks are seeing an upward trend with Indian Hotels Company (IHCL) outperforming the market in recent months.
Brand openings and signings by properties have increased marginally in 1H21 compared to last year. In 1H21, hotel operators have signed smaller hotels with increased focus on tier three and tier four cities. 19 hotels spanning 1910 keys opened for guests in the first half of this year compared to 14 hotels covering 1361 rooms in the first half of last year. 49 hotels spanning 4401 rooms were signed in the first half of this year, compared to 46 hotels covering 4998 rooms in the first half of 2020.
According to the report, domestic air traffic increased by over 47% in June this year compared to May as travel restrictions started easing across states in India because of the declining Covid cases in the country.
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