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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