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Delhi witnessed a 74.4% YOY decline in RevPAR during Q42020, Mumbai RevPAR declined by 58.4% : JLL
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Synopsis
While the RevPAR decline was steep, Jaideep Dang, managing director, Hotels and Hospitality Group, South Asia at JLL said post the unlocking of the country, Delhi’s hospitality sector observed a month-on-month increase in occupancy levels during Q42020.
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Delhi has seen a significant decline of 74.4% in revenue per available room (RevPAR) during Q4 2020 as compared to Q4 2019, according to the recent Hotel Momentum India (HMI) Q4 2020 by
JLL. Due to the pandemic, the city witnessed a 35.7pp decline in occupancy and a 52.7% decline in average daily rates (ADR). Owing to the nationwide lockdown and travel restrictions due to the pandemic, the hospitality sector in the city witnessed a 57.4% decline in RevPAR during January to December last year, compared to 2019.
Domestic travel in India to continue to aid hotel recovery in 2021
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India’s hospitality industry witnessed a decline of 54.9% in Revenue Per Available Room (RevPAR) during January to December (CY 2020) as compared to CY 2019, according to JLL’s Hotel Momentum India (HMI) Q4 2020, a quarterly hospitality sector monitor. With the revival of domestic travel, emergence of recovery indicators has come to the rescue of the sector.
The recovery of the sector has been primarily driven by leisure ‘revenge travel’ during weekends, festival season, weddings and demand of food & beverage. Total number of signings in Q4 2020 stood at 45 hotels comprising of 4,326 keys, recording a decline of 43.6%, compared to the same period last year. International operators dominated signings over domestic operators with the ratio of 57:43 in terms of inventory volume.
Domestic travel will continue to aid recovery for hotels in 2021: JLL
Indiaâs hospitality industry witnessed a decline of 54.9% in Revenue Per Available Room (RevPAR) during January to December (CY 2020) as compared to CY 2019, according to JLLâs Hotel Momentum India (HMI) Q4 2020, a quarterly hospitality sector monitor. With the revival of domestic travel, emergence of recovery indicators has come to the rescue of the sector.
The recovery of the sector has been primarily driven by leisure ârevenge travelâ during weekends, festival season, weddings and demand of food & beverage.
Total number of signings in Q4 2020 stood at 45 hotels comprising of 4,326 keys, recording a decline of 43.6%, compared to the same period last year. International operators dominated signings over domestic operators with the ratio of 57:43 in terms of inventory volume.
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