India: 2020 Hotel Market Review
By Vijay Thacker on February 4, 2021
Market Report: India Hotel Market Review 2020
Jointly prepared by Horwath HTL India and STR, the annual report analyses hotel sector performance in an exceptionally challenged year marred by a global pandemic. It’s a tale of massive occupancy drops, ADR and RevPAR declines.
For a more realistic insight, the reports presents performance for the Pandemic period (Mar-Dec) and Q4-20, alongside the full year. Full year Occupancy was 34.5%, the pandemic period was at 27.8%; however Q4-20 gives some heart with improvement to 37.9%.
- Leisure show positive revival – Udaipur and Goa, Rajasthan, Agra, Mussoorie, Rishikesh, Coorg, Himachal; staycations within cities
- Weddings are back, even with curtailed sizes; business travel and MICE and awaited
- Mumbai, Delhi and Goa remained the lead major markets, at 40+% occupancy; Vizag topped with 43%
- Bengaluru and Pune hit hard by WFH for IT sector
- Several key markets report pandemic period RevPAR in the 100’s; Ahmedabad at the bottom with Rs. 672.