HospitalityBiz India
Hotels FoodService Operations Ministry Associations Equipment Editorial HR Technology Technology Advisory Board Community
Follow us on Facebook Follow us on Twitter instagram
    Home > NewsTrack
NEWSTRACK

RevPAR in top six Indian cities decreased by 48% YoY in Q1 2021: JLL

Thursday, May 20, 2021, 15:04 Hrs  [IST]
HBI Staff | Hyderabad

India’s hospitality industry witnessed a decline of 38.7% in Revenue Per Available Room (RevPAR) during Q1 2021 as compared to Q1 2020, according to JLL’s Hotel Momentum India (HMI) Q1 2021, a quarterly hospitality sector monitor. Additionally, RevPAR in the top six cities has decreased by 48% in Q1 2021 as compared to Q1 2020. 

The recovery of the sector has been primarily driven by leisure segment performing notably well. Total number of signings in Q1 2021 stood at 28 hotels comprising of 2,064 keys, recording a decline of 53% compared to the same period last year. International operators dominated signings over domestic operators with the ratio of 54:46 in terms of inventory volume.

 
Goa grew to be the RevPAR leader in absolute terms, despite the single digit decline of RevPAR by 1.1 percent in Q1 2021 compared to Q1 2020. This was due to a 6.4% increase in occupancy levels. Demand for domestic leisure travel amidst international travel restrictions continues to make Goa the fastest recovering market in absolute term.

Bengaluru saw the sharpest decline in RevPAR in Q1 2021, with a 60.6% decline compared to the same period of the previous year.

Demand and supply of operational inventory in six major cities declined by 6.7% and 4.2% respectively in the first quarter of 2021.
“In Q1 2021, hospitality industry witnessed a revival, with most leisure markets performing exceptionally well. The pace of recovery started picking up due to increase in corporate travel but it was short lived as the onset of second wave brought back travel restrictions and derailed the recovery. We expect that the hospitality sector in India will mostly remain under stress in 2021. However, the hotels are much more nimble and better prepared in terms of their SOPs and cost structures to navigate business interruptions this year. A few trades may emerge in the hotel investment space given the dynamic cash flow situations,” said Jaideep Dang, Managing Director, Hotels and Hospitality Group, South Asia, JLL. 
 

 
Print News Email News Back
Bookmark to Add to NewsvineNewsvine Bookmark with del.icio.usdel.icio.us Digg ItDigg
Add RSS to Add to Google Add to My Yahoo! Subscribe with Bloglines Subscribe
 POST A COMMENT
* Name :    
* Email :    
* Message :  
   
RELATED NEWS
»  We expect to be a top 3 pizza brand in India by 2025: Mahesh Reddy, CEO India, GOPIZZA
»  Advani Hotels and Resorts (India) Limited reports audited financial results for Financial Year 2021-2022
»  Anantara Hotels, Resorts & Spas Announces New General Manager Appointments in Africa, Indian Ocean and the Middle East
»  Hotel Mercure Hyderabad KCP, Banjara hills launches Terrace, A Roof Top Bar & Restaurant
»  Next-generation snack brand TAALI forays into Indian market
»  Hyatt Centric brand debuts in the Indian capital with Hyatt Centric Janakpuri New Delhi
»  In 2021, Lavazza Group reported revenues of 2.3bln, up 11% on 2020
»  54 Praangan, The Indian Specialty Restaurant at Indore Marriott launches its new menu
»  Blue Tiger offering frozen food; Planning to Expand in Tier 2 & 3 Cities
»  Indian Tourism & Hospitality performance report 2021 by Noesis says domestic travel is driving the recovery
»  Culinary Culture's pioneering initiative FoodSuperstars celebrated India's top 30 chefs at a glittering award ceremony in New Delhi
»  Culinary Culture's pioneering initiative FoodSuperstars celebrated India's top 30 chefs at a glittering award ceremony in New Delhi
»  Meraki Hospitality presents an all-new Indian Casual Dining Restaurant, Bharat Bhavan
»  WICCI Hospitality and Tourism and Indian School of Hospitality (ISH) launch a whitepaper titled “Evaluation of the State of Gender Equity in India’s
»  STAAH Recognized as Top Connectivity Provider by Expedia Group
»  Radisson Hotel Group adds nine new hotel signings across South Asia in 2021
»  Uttarakhand Tourism bags the award for best Adventure tourism stall and homestay at Indian Travel Mart, Goa
»  The Fern Hotels & Resorts to open six new properties by June 22
»  Beam Suntory Reports 2021 Results Reflecting Strong Growth For Premium Brands
»  Indian hospitality sector witnessed a 100.3% YoY RevPAR growth in Q4, 2021: JLL
 
CoverStory
Analysis
 
  The Indian Institute of Architects (IIA) Natcon 2020 virtual event concludes successfully
  Winners of The Park Elle Décor Student Contest felicitated at Indian Design ID 2020
 
weekly
Receive the best of Hospitality content in your mailbox.
Weekly e-Newsletter
Events Calendar




Events
 
 
people
interview
newappoint
expert
© Copyright 2016 Saffron Synergies Pvt Ltd
HOME   |   ABOUT US   |   CONTACT US   |   FEEDBACK   |   DISCLAIMER   |   SITE MAP   |   ARCHIVES