Travel restrictions owing to COVID-19 continue to impact hospitality, travel and tourism sectors within India and around the world. In order to gauge the impact of the pandemic on the hospitality sector in India, JLL performed an in-depth survey with key hotel operators. The outcomes of the survey have been insightfully captured in the paper title ‘Impact of COVID-19 on Indian Hospitality Industry’ that highlights the effects of the pandemic on development and opening of new hotels, as well as the support required for the sustenance of the sector.
The paper outlines key insights on COVID-19 impact on India’s hospitality industry. It puts forth key findings in the most realistic manner for the target groups’ easy understanding:
60% of the operators surveyed believe that it will take 13 to 24 months for their portfolio to bounce back to 2019 RevPAR levels
53% of the total leading hotel operators have shut down more than 80% of their inventory during the nation-wide lockdown period
Over 60% of respondents have up to 10% of their total hotels serving as quarantine facilities predominantly in key markets, with some of these hotels providing rooms for the “Vande Bharat Mission”
53% of the respondents believe that key business cities are likely to witness an early pick-up in room nights demand
Hotel development and openings - Deferring of new openings