Hyderabad and Mumbai Lead Indian Hotels' Growth
Skift Take
The Indian hotel industry saw a 4.8% RevPAR growth in 2Q24, with Hyderabad leading the gains, while Mumbai hotels topped in occupancy, ADR, and RevPAR, despite a dip in overall occupancy due to summer vacations and reduced corporate travel.
The Maldives reported over 100,000 tourist arrivals so far in August 2024. The total was 109,415 tourist arrivals at Velana International Airport between August 1 and 17, up 14.9% over the same period last year. China contributed 14.3% of the total arrivals, followed by Russia with 10.8% in the period between January 1, 2024, and August 17, 2024. That total is up 10.4% year over year to 1,292,472. The Maldives goal for this year is 2 million tourists, up from 1.8 million in 2023.
JLL said the Indian hotel industry registered 4.8% growth in RevPAR in 2Q24, driven by a rise in Average Daily Rate. Excluding Goa, all the other markets showed growth in RevPAR and ADR with Hyderabad leading the list. The second quarter recorded a dip in occupancy levels attributed to the onset of summer vacations and a subsequent decrease in corporate travel. RevPAR was a healthy +15.9% but that is down from 1Q. Hyderabad had RevPAR growth of 11.9% year over year followed by Delhi and Bengaluru
