Hospitality sector to witness stellar growth in next 2 qtrs

Hyderabad: Indian hospitality sector witnessed a 339.3 per cent year-on-year (y-o-y) Revenue Per Available Room (RevPAR) growth in Q2 (April-June) of 2022, according to JLL's Hotel Momentum India (HMI). Bengaluru emerged as RevPAR growth leader in Q2 2022 registering a growth of 660.1 per cent over Q2 2021, followed by Goa and Hyderabad with y-o-y growth of 564.5 per cent and 326 per cent respectively. The next two quarters are expected to remain busy on the back of domestic leisure amidst long weekends and festivals.

Jaideep Dang, MD, Hotels and Hospitality Group, South Asia, JLL, said: "With exponential growth across all performance indicators in business and leisure destinations, Q2 2022 marks the revival of investor interest and stakeholder profitability in the hotel industry. We expect this momentum to continue over the next few quarters on the back of long weekends, festivals, weddings, events, and business travel evenly contributing to this growth story."

The total number of hotel signings in Q2 2022 stood at 47 hotels with 4,010 keys. The hotel signings witnessed a significant increase of 90.9 per cent as compared to signings in Q2 2021. Domestic operators dominated signings over international operators with a ratio of 52:48 in terms of inventory volume.

RevPAR witnessed an exponential growth of 339.3 per cent year-on-year (YoY) in Q2, 2022 over Q2 2021. Furthermore, the sector witnessed a stellar 44.6 per cent growth at a pan-India level in RevPAR compared to Q1 2022. All six key markets witnessed exponential growth in RevPAR levels in Q2 2022 as compared to Q2 2021, due to the low base witnessed last year.