India's hospitality sector saw 43.5% decline in RevPAR in H1 2020 over the same period last year, due to COVID-19 impact. Brand signings declined by 83% in Q2 2020 over Q2 2019.
India’s hospitality industry has witnessed decline of 43.5% in RevPAR in H1 (YTD June) 2020 over the same period last year under the impact of COVID-19 pandemic. Overall, in terms of inventory volume, the brand signings declined by 83% in Q2 2020 over Q2 2019, however international operators signed more number of keys than domestic ones.
The Hotel Momentum India (HMI) Q2 2020 outlines key insights from the sector including:
All key 11 markets in India witnessed a decrease in RevPAR Performance in Q2 2020 over the same period last year
Mumbai continues to be the RevPAR leader in absolute terms, despite the decline of RevPAR by 81 percent in Q2 2020 compared to Q2 2019
Goa saw the sharpest decline in RevPAR in Q2 2020, with a 93.9 percent decline compared to the same period in the previous year