Harnessing Data Analytics: Data Don’t Lie

The eighth edition of the prestigious BW Hotelier Indian Hospitality Summit & Awards (IHA 2024) hosted the BWH Harnessing Data Analytics: Data Don’t Lie by Karan Mahesh, Senior Sales Manager, South & Southeast Asia - STR, CoStar Group. The session discussed the triumphs, trends and trails in the Indian hospitality industry with a global context through the lens of STR data.

Mahesh stated, “India represents maintenance occupancy rates due to recovery post-pandemic. Performance has normalised after February in the Asia-Pacific market, we’ll see divergence in the market in the near future. Price Sensitivity in Asia-Pacific has declined but occupancy rate has gone up in August.”

He further added, “Business drivers are exchange rates in markets such as Tokyo, Japan making it ideal for foreign travellers due to currency depreciation and for Singapore is vice-versa. For Delhi, India it is business as usual and markets for Beijing, China and New Zealand have stagnated.”

He emphasised the importance of sub markets and commented “Sub markets within Mumbai such as South and Thane have risen significantly. Business markets during weekdays have seen more occupancy and pricing power. Weekly occupancy highs and lows mirror the past trends, it mirrors the past. Occupancy rates during Diwali week have remained stagnant and rates are not very price sensitive. For the coming Diwali week, as a country we’re 13 per cent behind the previous year.”

The two-day BW Hotelier Indian Hospitality Summit & Awards (IHA 2024) encompassed over 20 sessions where hospitality veterans and experts across the nation gathered in order to provide diverse knowledge and insights. The Summit & Awards is a testament to BW Hotelier’s commitment towards revolutionising Indian hospitality by honouring the Crème de la crème of the industry.