According to early data and analysis from STR, India's hotel sector has experienced a continuing improvement in occupancy due to the progressive approach to vaccines in major areas throughout the country, following a sharp decrease due to a second COVID-19 wave.
In early June, India's daily occupancy was in the 20-30% range, but by the end of the month, it had risen to around 35%, with an outlier of 50.5% on June 26. The country made another stride forward in July, with most days in the 40-60% range and a high of 63.2% on July 17.
“The progressive approach to vaccines has resulted in an increase in tourists and hotel demand—leisure demand continues to drive this growth,” said Vidhi Godiawala, STR's Central and South Asia business development manager. “In addition to the obvious improvement, we've seen a new trend in the country's regaining occupancy. Whereas India's initial recovery earlier this year was centred in leisure destinations like Goa, its recent bounce has seen improvement in densely crowded areas like New Delhi and Mumbai.”
On the 26th of June, Mumbai's daily occupancy hit 77.9%. On July 17, New Delhi's occupancy rate increased to 79.7%. In 2021, they were the highest day values in each market.
Source: Hospitality Net