India’s hospitality trade has witnessed a development of 15.8% in RevPAR from October to December (This fall 2023) over the identical interval final yr.
India’s hospitality trade has witnessed a development of 15.8% in RevPAR from October to December (This fall 2023) over the identical interval final yr. Moreover, the sector witnessed a major development of 31% in RevPAR at pan-India stage in This fall 2023 as in comparison with Q3 2023. Whole no. of signings in This fall 2023 stood at 82 accommodations with 8,741 keys. There have been 15 accommodations signed that had been conversions of different accommodations. Conversions constituted 14% of the stock signed in This fall 2023.
The Lodge Momentum India (HMI) This fall 2023 outlines key insights from the sector together with:
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All six key markets continued to witness a year-on-year development in RevPAR in This fall 2023, in comparison with This fall 2022 primarily because of the pick-up in ADR ranges.
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Mumbai was the RevPAR chief in absolute phrases in This fall 2023 with a 16% enhance in ADR ranges over This fall 2022.
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Bengaluru noticed the steepest enhance in RevPAR development in This fall 2023, with a 31.9% development in comparison with the identical interval within the earlier yr.
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