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While nationwide hotel occupancy slumped for the month of October 2022, compared to September, owing to a drop in business travel because of the festival season, average room rates in the organised hotel industry continued their upward trend, helping hotels maintain their revenues to above the pre-pandemic levels for the month.According to a new report by hospitality consultancy HVS Anarock, Hotels & Hospitality Overview India, Mumbai and New Delhi remain the top markets with occupancy rates exceeding 65% in October 2022, while Goa had the highest average rate, over 10,000 for the month.In October, room occupancies slumped the most in cities like Chandigarh, New Delhi and Hyderabad between 5-10% as compared to October 2019. Mumbai and Bengaluru, too, saw a low of under 5%. The company, though, said that occupancies remained strong in Kolkata, Pune, Goa, Chennai and Kochi, higher by about 1-5%.

Average daily rates remained strong in cities like Goa and Kochi, up between 20-30% as compared to October 2019. Delhi, Kolkata, Hyderabad and Bengaluru, though, saw up to 10% lower rates than the same period in 2019. During this time, India’s domestic air traffic increased by 10% in the month compared to the previous month.

This year, year to date till October, about 91 hotels with about 7953 rooms were opened while another 166 hotels with inventory of 12,561 hotels were signed, added the report. The company said it took into account this data till the end of November, collecting the upcoming pipeline from about 21 hotel operators.

ABOUT THE AUTHOR

Varuni Khosla

Varuni Khosla is a journalist with close to 14 years of experience in writing business news stories for mainstream newspaper companies like Mint and The Economic Times. She reports and writes on luxury and lifestyle brands, hospitality and tourism news, the business of sports, the business of advertising and marketing and alcohol brands.
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