This report highlights the key trends in the Indian hospitality industry in 2023 along with the sector performance metrics, brand signings, and brand openings during the year. It also provides our outlook for the sector for 2024.
Employment and international visitor spend breaks all records
As expected with Passover, U.S. hotel performance came in lower than the previous week and comparable period last year, according to CoStar's latest data through 27 April.
Beyond the track, The Olympic Games provide a once-in-a-lifetime opportunity for the host city's hospitality industry to take center stage. As the world's gaze turns to Paris in 2024, we're keeping a close eye on the performance of the city's hotels and short-term rentals.
Surging inbound tourism will help boost Australia's hotel occupancy levels this year and next while spurring room rate growth in most markets, particularly Sydney and Brisbane, according to new CBRE forecasts.
Revenue per available room (RevPAR) fell 2.2% year over year (YoY) in March, marking the first such decline since February 2021.
Read the latest edition of the HVS ANAROCK monthly industry update, Hotels & Hospitality Overview (H2O), for the key trends in the Indian hospitality industry.