In July 2024, nationwide hotel occupancy rates experienced a steady improvement, rising by 3 to 5 percentage points year-on-year (YoY). However, these rates have yet to fully recover to pre-COVID levels, reflecting the ongoing challenges faced by the industry, according to HVS Anarock’s Hotels & Hospitality Overview August 2024 report. Among the cities, Pune and Chennai emerged as frontrunners, boasting the highest occupancy rates for the month, highlighting their strong market performance. Kolkata, New Delhi, and Chandigarh were notable for their significant contributions to occupancy growth, with each city recording an increase of 6 to 8 percentage points compared to the previous year.
