India’s hospitality industry has witnessed a growth of 84.7% in RevPAR during April to June (Q2 2021) over the same period last year, due to complete lockdown in Q2 2020. However, the sector saw a 53.9% q-o-q decline in RevPAR due to the second wave of the pandemic during Q2 2021. Total number of signings in Q2 2021 stood at 20 hotels with 2,100 keys, which is three times of the rooms signed in Q2 2020 domestic operators signed more number of keys than international operators.
The Hotel Momentum India (HMI)Q2 2021 outlines key insights from the sector including:
All key six markets in India witnessed a growth in RevPAR Performance in Q2 2021 over the same period last year which was initial months of strict nation-wide lockdown
Goa emerged as the RevPAR leader in absolute terms with a 360.1% increase during Q2 2021 over Q2 2020
Mumbai witnessed the highest growth in occupancy level registering 17.7% increase in Q2 2021 over the same period last year