This has been indicated by the recently released ‘HVS-ANAROCK Hotels & Hospitality Overview – July 2024’.

In June 2024, domestic air passenger traffic grew by nearly 6% year-on-year. Further Kochi registered the highest increase in occupancy rate, growing by 7 pp year-on-year, a notable rise compared to other cities.

Meanwhile, both Hyderabad and Mumbai experienced declines in year-on-year occupancy rates, ranging from 1-3 pp. Both cities, however, saw substantial increases in average rates, with Hyderabad leading with over a 9% year-on-year

During the month, Goa and Kolkata were the only markets to experience declines in average rates when compared to June 2023, with Kolkata’s rates dropping by nearly 6% from May 2024 as well.