The Indian hospitality sector experienced a 4.8 per cent YoY growth in Revenue Per Available Room (RevPAR) for Q2 2024, according to a report by JLL’s Hotel Momentum India. This growth was due to an increase in average daily rates across key markets, despite a decline in occupancy levels. Hyderabad led the charge with a significant RevPAR growth of 11.9 per cent in Q2 2024, followed by Delhi and Bengaluru with YoY growths of 11.8 per cent and 10.4 per cent respectively. All major markets, except Goa, saw improvements in ADR, contributing to the overall RevPAR growth. In terms of expansion, the Indian hospitality sector saw growth in branded hotel signings and openings during Q2 2024, with 82 branded hotels signed and 50 new hotels opening, adding 3,755 keys to the market.
