Occupancy rate in hotels in India FY 2001-2024
In fiscal year 2024, the occupancy rate of hotels in India was estimated to be 70 percent, a rise from about 66 percent in last year. In the recent years, the decline came in the wake of the coronavirus (COVID-19) pandemic. However, it is slowly bouncing back to pre-pandemic rate.
Mumbai – a city that never sleeps
Mumbai, the capital of Maharashtra, witnessed a slow-paced growth in the hotel industry in recent years mainly due to the changes in real estate policies and exorbitant land prices. Despite this, the financial and entertainment capital of India outpaced all other major markets in the country by achieving the highest occupancy rate and revenue per available room in 2020. With the availability of international convention centers like the Jio World Centre located in the heart of commercial district of Bandra-Kurla Complex, Mumbai was the preferred business location in the country. In 2021, it still had the highest occupancy rate and revenue per available room rate, but at a much lower level.
Leading hotel company
In 2019, the Indian Hotels Company Limited stood out as India’s largest hospitality company by net sales. One of the first hotels opened by this company was the Taj Mahal hotel located in Mumbai. Opened almost a century ago, the Taj Mahal hotel has hosted some of the most illustrious guest from all over the world. Ever since the hotel has held on to the legacy of providing warm hospitality and world-class facilities. Well known for its grandeur, the Taj remains a hallmark of Indian hospitality year after year.
Mumbai – a city that never sleeps
Mumbai, the capital of Maharashtra, witnessed a slow-paced growth in the hotel industry in recent years mainly due to the changes in real estate policies and exorbitant land prices. Despite this, the financial and entertainment capital of India outpaced all other major markets in the country by achieving the highest occupancy rate and revenue per available room in 2020. With the availability of international convention centers like the Jio World Centre located in the heart of commercial district of Bandra-Kurla Complex, Mumbai was the preferred business location in the country. In 2021, it still had the highest occupancy rate and revenue per available room rate, but at a much lower level.
Leading hotel company
In 2019, the Indian Hotels Company Limited stood out as India’s largest hospitality company by net sales. One of the first hotels opened by this company was the Taj Mahal hotel located in Mumbai. Opened almost a century ago, the Taj Mahal hotel has hosted some of the most illustrious guest from all over the world. Ever since the hotel has held on to the legacy of providing warm hospitality and world-class facilities. Well known for its grandeur, the Taj remains a hallmark of Indian hospitality year after year.
