The revenue per available room (RevPAR) in hotels across six major cities rose by 39.1 per cent year-on-year (YoY) during the January-March quarter with a strong recovery in leisure and business travels, according to JLL India.
The company has tracked Delhi, Mumbai, Chennai, Hyderabad, Goa and Bengaluru markets.
“All six key markets witnessed RevPAR growth in Q1 2022 compared to Q1 2021, due to strong recovery in leisure and business travel, post the third wave of the pandemic,” the report said.
The sector witnessed a 15.9 per cent negative growth in RevPAR pan-India during January-March 2022 due to Omicron, compared to the previous quarter.
“Mumbai witnessed the highest growth in RevPAR with a 71.5 per cent increase in Q1 2022, over the same period last year,” the report said.
The consultant said that the next two quarters are expected to remain busy on the back of domestic leisure amidst the summer holidays.
“Continued growth in business travel is expected as most people have resumed work from the office and are travelling for client meetings as well as project work. The domestic segment will continue to drive demand for both corporate and leisure travel while international travel is expected to witness steady and cautious growth over the next couple of quarters,” it added.
Jaideep Dang, Managing Director, Hotels and Hospitality Group, South Asia, JLL, said there is a significant uptick in domestic corporate travel as office occupancies have gone up and people have re-started travelling for client meetings and off-sites.
“Additionally, the steady growth of international corporate travel has boosted confidence in the travel trade. Uncertainty may remain around covid variants and waves, but we feel that the sector is set to recover well in 2022,” he added. PTI MJH MR
