Quarterly Hospitality Monitor Q4 2022
Insight
Hotel Momentum India (HMI)
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India’s hospitality industry has witnessed a growth of 60.9% in RevPAR from October and December (Q4 2022) over the same period last year. Furthermore, the sector witnessed a 30.1% growth at a pan-India level in RevPAR in Q4 2022, compared to Q3 2022 on the back of corporate travel weddings and year-end holidays. Total no. of signings in Q4 2022 stood at 81 hotels with 6,333 keys. There were 25 hotels signed that were conversions of other hotels. Conversions constituted 27% of the inventory signed in Q4 2022
The Hotel Momentum India (HMI) Q4 2022 outlines key insights from the sector including:
All six key markets continued to witness a y-o-y growth in RevPAR in Q4 2022 compared to Q4 2021 primarily due to the strong recovery of business travel
Goa was the RevPAR leader in absolute terms in Q4 2022 with a 14% increase in ADR levels over Q4 2021, despite a marginal drop in occupancy levels
Bengaluru saw the steepest increase in RevPAR in Q4 2022, with a 110.6% growth compared to the same period in the previous year