Chennai: India’s hospitality industry witnessed a decline of 38.7 per cent in Revenue Per Available Room (RevPAR) during Q1 2021 as compared to Q1 2020, according to JLL’s Hotel
Momentum India (HMI) Q1 2021, a quarterly hospitality sector monitor. Additionally, RevPAR in the top six cities has decreased by 48 per cent in Q1 2021 as compared to Q1 2020.
The recovery of the sector has been primarily driven by leisure segment performing notably well.
Total number of signings in Q1 2021 stood at 28 hotels comprising of 2,064 keys, recording a decline of 53 per cent compared to the same period last year.
International operators dominated signings over domestic operators with the ratio of 54:46 in terms of inventory volume.