Chennai: India’s hospitality industry witnessed a decline of 54.9 per cent in Revenue Per Available Room (RevPAR) during January to December 2020 as compared to 2019, according to a quarterly hospitality sector monitor.
With the revival of domestic travel, emergence of recovery indicators has come to the rescue of the sector, said JLL’s Hotel Momentum India Q4 2020.
The recovery of the sector has been primarily driven by leisure ‘revenge travel’ during weekends, festival season, weddings and demand of food and beverage, it said.
Total number of signings in Q4 2020 stood at 45 hotels comprising of 4,326 keys, recording a decline of 43.6 per cent, compared to the same period last year.
International operators dominated signings over domestic operators with the ratio of 57:43 in terms of inventory volume.