Research
Hotel Momentum India (HMI)
Quarterly Hospitality Monitor Q3 2022
November 04, 2022
Contributors:
- Adhiraj Guha
- Vaishnavi Iyer
India’s hospitality industry has witnessed a growth of 89.6% in RevPAR from Jul-Sept’22 (Q3 2022) over the same period last year. Furthermore, the sector witnessed a marginal 3.8% de-growth due to dip in corporate travel amidst long weekends and festivals at pan-India level in RevPAR in Q3 2022, compared to Q2 2022. Total no. of signings in Q3 2022 stood at 54 hotels with 4,282 keys, which is 53.2% more of rooms signed in Q2 2021. International operators dominated signings over domestic operators with the ratio of 53:47 in terms of inventory volume.
The Hotel Momentum India (HMI) Q3 2022 outlines key insights from the sector including:
- All six key markets continued to witnessed a y-o-y growth in RevPAR in Q3 2022 compared to Q3 2021 when the country was emerging from the second wave of the pandemic with strict travel restrictions
- Mumbai was the RevPAR leader in absolute terms in Q3 2022 with a 80% increase in ADR levels over Q3 2021
- Bengaluru saw the steepest increase in RevPAR in Q3 2022, with a 241.4% growth, compared to the same period in the previous year
