Occupancy and average daily rate (ADR) are expected to reach pre-COVID levels by 2022 and 2023 respectively - assuming that a vaccine is in place by early 2021 and becomes widely available before the end of the year.
Tag: HVS ANAROCK
- Approx. 8,574 keys to hit the market in 2019; nearly 19% increase over the last 2 years
- Revenue per available room (RevPAR) sees 17% growth between 2016 and 2018
- Average daily rates saw a 6.25% rise in 2018, faster than 4.5% long-term inflation rate
- Goa saw the largest signing of keys in 2018 at nearly 2,209 keys, eclipsing Bengaluru by just 192 keys
- Hotel transaction volume hit an all-time low in 2018 at INR 5,354 mn since 2007; 2019 likely to witness the sale of high-value hotel assets valued USD 800 mn across key markets
Mumbai, 10 April 2019: With demand finally outpacing supply, the Indian hospitality industry is on an upswing. The ‘India Hospitality Industry Review 2018’ report by HVS ANAROCK predicts RevPAR to grow by 9.5% in 2019.
Interestingly, Q1 2019 itself saw unexpected growth in the India hotel industry. The successful transaction of the Leela Hotels & Keys portfolio in Q1 2019 set a healthy tone for the start to the year, and trends indicating that 2019 could see transaction volumes reach around USD 800 mn.
PRESS RELEASE
HVS And ANAROCK Join Forces To Tap Into India’s $210 Billion Hospitality Market
- Partnership to boost HVS India’s annual turnover by up to 75%
- Multiple big-ticket hotel funding, divestments & acquisitions already underway
Mumbai, 17 May 2018: India’s leading real estate services firm, ANAROCK Property Consultants, today announced its partnership with HVS, the global hospitality sector leader.
As a new business vertical under the ANAROCK Group, HVS ANAROCK will focus on brokerage, feasibility studies, operator searches, appraisals, executive search and other hospitality sector consulting and advisory services throughout South Asia.
Anuj Puri, Chairman – ANAROCK Property Consultants takes on the added role of Chairman – Hospitality at HVS ANAROCK and the Firm’s soon-to-be-appointed CEO will report to him. Shobhit Agarwal, MD & CEO – ANAROCK Capital will head the transactions vertical at HVS ANAROCK.
Stephen Rushmore Jr, President and CEO – HVS, commented, “We are very excited to partner with ANAROCK as we share a strong professional and cultural fit.