India’s hospitality industry has witnessed a decline of 52.8 percent in RevPAR during January to September (YTD Sept) 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 19 percent in Q3 2020 over Q3 2019, however international operators signed more number of keys than domestic ones.
The Hotel Momentum India (HMI)Q3 2020 outlines key insights from the sector including:
As per STR, all key 11 markets in India witnessed a decrease in RevPAR Performance in Q3 2020 over the same period last year
Mumbai continues to be the RevPAR leader in absolute terms, despite the decline of RevPAR by 71.7% percent in Q3 2020 compared to Q3 2019
Bengaluru saw the sharpest decline in RevPAR in Q3 2020, with an 88.1 percent decline compared to the same period in the previous year