Hotel Momentum India (HMI)
Quarterly hospitality monitor Q3 2021
India’s hospitality industry has witnessed a growth of 169.4% in RevPAR from July to September (Q3 2021) over the same period last year, due to the low base of Q3 2020. Furthermore, the sector saw a 122.9% q-o-q growth in RevPAR in Q3 2021 as compared to Q2 2021, because of the strong recovery in leisure demand as travel restrictions were eased post the second wave of the pandemic. Total number of signings in Q3 of 2021 stood at 32 hotels comprising of 2,624 keys, recording a growth of 13.4% compared to the same period last year. In line with the overall increasing trend, 15 new signings (47% of total properties signed) are conversions of old hotels. Domestic operators dominated signings over international operators with the ratio of 57:43 in terms of inventory volume.
The Hotel Momentum India (HMI) Q3 2021 outlines key insights from the sector including:
- As per STR, all key 6 markets in India witnessed a growth in RevPAR Performance in Q3 2021 over the same period last year which were the initial months of the unlocking of the economy post the first nation-wide lockdown
- Goa re-emerged to be the RevPAR leader in absolute terms with a 389.8% increase during Q3 2021 over Q3 2020
- Hyderabad witnessed the highest growth in occupancy level registering a 33.6%p increase in Q3 2021 over the same period last year