Driven by demand for weddings and events, the Indian hospitality sector witnessed strong growth in Q2 (April – June) 2022. In comparison to Q2, 2021, RevPAR witnessed an exponential growth of 339.3 % year-on-year (YoY) in Q2, 2022. Furthermore, the sector witnessed a stellar 44.6% growth at a pan-India level in RevPAR compared to Q1 2022 wherein the sector was still emerging from the third wave of the pandemic, according to JLL’s Hotel Momentum India (HMI) Q2, 2022.
The next two quarters are expected to remain busy on the back of domestic leisure amidst long weekends and festivals. “As business travel and corporate off-sites continued to grow, summer holidays offered a further impetus to the overall demand resulting in a renewed confidence in the sector. We expect this momentum to continue over the next few quarters on the back of long weekends, festivals, weddings, events, and business travel evenly contributing to this growth story” said Jaideep Dang, Managing Director, Hotels and Hospitality Group, South Asia, JLL. The total number of hotel signings in Q2 2022 stood at 47 hotels with 4,010 keys. The hotel signings witnessed a significant increase of 90.9% as compared to signings in Q2 2021. Domestic operators dominated signings over international operators with a ratio of 52:48 in terms of inventory volume.
