The Indian hotel sector continues to show strong signs of recovery. The sector witnessed its highest monthly room rates since March 2020, with Goa leading the way with average rates 20% higher than pre-pandemic levels. While the room rates bounced back significantly, hotel occupancy in India witnessed only a modest rise compared to the previous month due to Omicron. The rising number of Omicron cases in the country has resulted in subdued leisure & business travel demand in Jan 2022. However, domestic travel is expected to witness a strong rebound as soon as the cases subside and travel limitations are lifted, some of which is already underway.
