Hotel Momentum India (HMI)

India’s hospitality industry has witnessed a growth of 39.1% in RevPAR from January to February (Q1 2022) over the same period last year. However, the sector witnessed a 15.9% negative growth at pan-India level in RevPAR in Q1 2022 due to the third wave of the pandemic, compared to Q4 2021. The total no. of signings in Q1 2022 stood at 56 hotels with 3,739 keys, which is 81.2% more of rooms signed in Q1 2021. In line with the overall increasing trend, 21 new signings (38% of total properties signed) are conversions of old hotels. Domestic operators dominated signings over international operators with the ratio of 75:25 in terms of inventory volume.

_{Source: STR}

The Hotel Momentum India (HMI) Q1 2022 outlines key insights from the sector including:

• All six key markets witnessed a growth in RevPAR in Q1 2022 compared to Q1 2021, due to the strong recovery in leisure and business travel post the third wave of the pandemic
• Goa re-emerged to be the RevPAR leader in absolute terms with a 16.4% increase during Q1 2022 over Q1 2021
• Mumbai witnessed the highest growth in RevPAR with a 71.5% increase in Q1 2022, over the same period last year