Increasing corporate travel, relocation business, small meetings, and staycations are the main demand drivers; says HVS Anarock report

According to HVS Anarock’s  Hotels & Hospitality Overview (H2O) October 2022,the Indian hotel industry’s performance bounced back in September 2022, following a seasonal dip in August 2022. The report also said that corporate travel, relocation business, and small meetings, as well as the staycation and visiting friends and relatives (VFR) segment, which has increased in recent months, were the main demand drivers. The strong recovery in demand is driving consistent increases in average room rates, which along with RevPAR continue to be higher than their pre-pandemic levels for the month. Mumbai and New Delhi remain the top markets with occupancy rate crossing 75% in September 2022, said the report.

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