Market Report
India Hotel Market Review, H1 2019
Horwath HTL India is delighted to release the India Hotel Review Report – H1 2019; a joint-publication between Horwath HTL and STR. This report analyses the performance of hotels in India for the half year Jan-June 2019. All comparisons are between H1-19 and H1-18 unless otherwise stated.
On the face it, all-India results are positive with 4.2% RevPAR growth mainly drawn from ADR crossing Rs. 6k and Occ inching up to 66.5%. As one digs deeper, there are some real bright lights, some questions and then some serious concerns. Trading conditions were generally softer in Q2-19.
Key Performance Indicators
- Occupancy (Occ): Increased slightly to 66.5%.
- ADR: Crossed Rs. 6,000.
- RevPAR: Grew by 4.2%, driven by higher ADR.
Regional Highlights
Bright Spots:
- Bengaluru: Achieved a 13.3% increase in RevPAR due to significant growth in commercial and IT demand, with double-digit growth across all segments.
- Gurugram: Also saw a 13% increase in RevPAR, benefiting from similar demand growth as Bengaluru.
- Hyderabad: Noted a 13.4% rise in RevPAR, led by Lux-UpperUp hotels.
- Chandigarh: Recorded a 16% increase in RevPAR, driven by strong corporate and MICE demand, although from a low base.
Areas of Concern:
- Goa: Experienced a decline with occupancy dropping by 5.4 points to below 70%. While market ADR grew marginally, the Midscale-Economy (M-E) segment saw a drop in ADR. RevPAR fell to a 38.5% premium over the all-India RevPAR, down from a 53.8% premium in H1 2017. The implementation of GST redirected business to other destinations and alternative accommodations, along with lower charter volumes.
- Ahmedabad: RevPAR declined by 6.8% during a year that included the Vibrant Gujarat event, which usually boosts the city’s performance. The RevPAR for H1 2019 was the lowest among all key cities.
Other Notable Performances:
- Mumbai: Grew rates across all segments.
- New Delhi: Showed moderate performance.
- Kolkata: Struggled with new supply and a slow Q2 2019.
- Pune: Occupancy declined to 68%, while ADR grew by Rs. 200. The slowdown in occupancy and ADR in Q2 2019 may be attributed to stress in the auto sector.
- Chennai: Reflected constrained occupancy and ADR in Q2 2019.
- Jaipur: Demonstrated moderate performance.
- Kochi: Showed mixed results with fluctuations in performance.
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