Indian hospitality sector witnessed a 100.3% YoY RevPAR growth in Q4 2021: Report
Indian hospitality sector witnessed a 100.3% YoY RevPAR growth in Q4 2021: Report

The Indian hospitality industry is currently on a positive upward trajectory with traveler confidence back led by improved vaccination rates, and ease of travel restrictions.

As a result, Revenue Per Available Room (RevPAR) witnessed a growth of 100.3% year-on-year (YoY) in Q4, 2021.

The quarterly RevPAR of Q4 (October-December) was at 41.9%, according to JLL’s Hotel Momentum India (HMI) Q4, 2021.

Whilst the latter part of Q4 started to witness some impact from the Omicron wave, last quarter (Q4, 2021) was largely the best performing period of the last year bolstered by long weekends, holidays during festivals, and social gatherings.

“Hotel performances across major cities in India witnessed stellar growth in Q4 2021 before the onset of the third wave of the pandemic,” said Jaideep Dang, Managing Director, Hotels and Hospitality Group, South Asia, JLL.

Business travel also resumed albeit in low numbers in some markets.The last quarter of 2021 (Q4 2021) also witnessed a significant increase in international arrivals as compared to the same time in the previous year.

The next two quarters are expected to witness growth in airline and rail travel and provide impetus to hotel performances as the current wave subsides.

The total number of hotel signings in Q4 of 2021 stood at 85 hotels with 7,347 keys.The hotel signings witnessed a significant increase of 81.9% as compared to signings in Q4 2020. Domestic operators dominated signings over international operators with a ratio of 52:48 in terms of inventory volume.

 
Stay on top – Get the daily news from Indian Retailer in your inbox
Also Worth Reading