Domestic leisure, weddings & social events segments have been driving nationwide hotel occupancy, which is steadily approaching the 60% mark, as per HVS ANAROCK H2O, November 2021. Showing strong signs of rebound, corporate travel and small-to-medium-sized events are also on the rise. Higher vaccination and fewer restrictions across the state are some factors boosting the recovery of MICE business. “Travel demand rebounded substantially in the third quarter of the year and we expect this sentiment to remain positive in the fourth quarter of the year. Corporate demand is also expected to improve steadily as most industries return to a full or hybrid ‘work-from-office’ model and resume their business travel plans. As a result, we expect the hospitality sector to close the year with a nationwide occupancy of 44-46%, up 9-12 percentage points from 2020,” observes Mandeep S. Lamba, President – South Asia, HVS. Meanwhile, domestic air traffic in India increased by over 27% in Oct 2021 compared to the previous month, as airlines were allowed to operate at full capacity.
