According to the report, the 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.
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https://mybs.in/2Zc4hR9 As per ANAROCK Property Consultants, over 26,340 rooms were added in the organized or branded hotels segment during 2017-19 Domestic travel industry has been one of the worst sufferers of Covid-19, as the pandemic and the ensuing lockdown hit their coffers hard. However, the economic activity picking up over the past few months, travellers – both leisure and business – are slowly returning. With an improvement in macro indicators in terms of business as well as COVID recovery rate, the hospitality sector is also expected to witness a revival in demand, though at a slower pace.
Hard-hit hotel industry expected to touch pre-Covid levels in next 2-3 years : ICRA
January 12, 2021
Revenue per available room declined 80% cent during the first eight months of FY21 The domestic hospitality industry is expected to witness a 70-75 per cent decline in revenue per available room (RevPAR) pan-India in FY2021.The industry has been one of the worst hit by the Covid-19 pandemic and the subsequent lockdowns.
According to estimates by ICRA, in the first eight months of FY2020-21, pan-India occupancy hit an all-time-low of 18-20 per cent, down from 64-65 per cent in the previous year. While the average room rates were discounted by 35-40 per cent, RevPAR declined by about 80 per cent during this period.