India’s hospitality industry witnessed a decline of 52.8% in Revenue Per Available Room (RevPAR) during January to September (YTD Sept) 2020 over the same period last year due to the impact of COVID-19 pandemic, according to JLL’s Hotel Momentum India (HMI) Q3 2020, a quarterly hospitality sector monitor.
Overall, in inventory volume, the brand signings declined by 19% in Q3 2020 over Q3 2019. However, international operators signed a greater number of keys than domestic ones.
All key 11 markets in India reported a decrease in RevPAR Performance in Q3 2020 over the same period last year. Mumbai continues to be the RevPAR leader in absolute terms, despite the decline of RevPAR by 71.7% in Q3 2020 compared to Q3 2019 whereas Bengaluru saw the sharpest decline in RevPAR in Q3 2020, with 88.1% decline compared to the same period in the previous year.
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