In Q2 2024, the hospitality sector experienced YoY growth due to an increase in average daily rate (ADR), resulting in a 4.8 per cent rise in RevPAR. However, summer vacations and reduced corporate travel led to a 15.9 per cent decrease in RevPAR growth compared to Q1 2024, according to JLL’s Hotel Momentum India (HMI) Q2 2024 report. “Backed by strong performance of hotels across India, we continue to see investors moving money in this sector. There is strong momentum on both greenfield developments as well as operating assets across business and leisure markets. Although the summer season has brought down corporate room night demand in Q2 2024, the sector continued to demonstrate growth in ADR compared to Q2 2023,” Jaideep Dang, Managing Director, Hotels and Hospitality Group, India, JLL, said.
