All-India hotel occupancy rose by 4% in 2023, rooms sold per day surge by 4.4% CAGR since 2019

As per the India Hotel Market Review 2023 by Horwath HTL, all-India hotel occupancy grew by 4 percent to reach 63.6%. Demand has risen from 94k RPD (Number of Rooms sold Per Day) in 2019 to 112k in 2023, representing a 4.4% compound annual growth rate (CAGR). However, occupancy levels remain below those of 2016-2019, with the widening supply across tier II, III, and leisure markets being a contributing factor; some major markets are still underperforming.