India’s hospitality industry has witnessed decline of 18.5 percent in RevPAR in Q1 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 10 percent in Q1 2020 over Q1 2019, however domestic operators signed more number of keys than international ones, increasing the share from 40 percent to 59 percent in total signings.
The Hotel Momentum India (HMI) Q1 2020 outlines key insights from the sector including:
- All major 11 markets in India witnessed a decrease in RevPAR Performance in Q1 2020 over the same period last year
- Mumbai continues to be the RevPAR leader in absolute terms, despite the decline of RevPAR by 20 percent in Q1 2020 as compared to Q1 2019
- Bengaluru saw the sharpest decline in RevPAR in Q1 2020 with a 28.5 percent decline as compared to the same period in the previous year