After a rapid decline due to a second COVID-19 wave, India’s hotel industry has seen a continued increase in occupancy due to the progressive approach to vaccinations in key markets across the country, according to preliminary data and analysis from STR.
India’s daily occupancy sat in the 20-30% range in early June but improved by the end of the month with several days closer to 35% and an outlier of 50.5% on 26 June. In July, the country took another step forward with most days in the 40-60% range and a peak of 63.2% on July 17.
“The progressive approach to vaccinations has led to an increase in travelers and hotel demand—leisure demand continues to drive this growth,” said Vidhi Godiawala, STR’s business development manager for Central and South Asia. “Beyond the noticeable improvement, we have seen a different trend in where the country is regaining occupancy. Whereas India’s first recovery earlier this year was concentrated in leisure destinations, such as Goa, heavily populated markets such as New Delhi and Mumbai have seen improvement in this latest rebound.”
Mumbai’s daily occupancy reached as high as 77.9% on 26 June. New Delhi occupancy improved to as high as 79.7% on July 17. Those were each market’s highest daily levels in 2021.
STR continues to monitor the COVID-19 impact and recovery on global hotel industry performance. More analysis can be found here.
About STR
STR provides premium data benchmarking, analytics and marketplace insights for global hospitality sectors. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces. For more information, please visit str.com and costargroup.com.
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