With the emergence of recovery indicators, the hospitality sector has also witnessed a revival in room demand in the last quarter of 2020, as compared to the previous quarters of the year. Occupancy levels have grown month on month since September 20 to cross 35% sector-wide in November 20 (as per STR data), the highest since the lockdown in March 20. This revival has primarily been driven by leisure ‘revenge travel’ during weekends and the festival season, weddings and F&B demand.
Goa, witnessed considerable growth in recent months achieving a market-wide occupancy level of almost 55% in November 20. Luxury and upper upscale hotels in Goa performed well in November 20, achieving healthy occupancy levels ranging between 60% and 70% as compared to occupancy levels in Nov’19 that ranged between 65% and 75%.
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