India Hotel Market Review 2021
By Vijay Thacker on February 28, 2022
The 2021 Annual India Hotel Market Review Report, jointly prepared by Horwath HTL India and STR, analyses hotel sector performance in an year that saw a relapse of the slowdown due to the ongoing pandemic followed by a strong resurgence of travel.
Some key highlights of 2021 performance
- Demand numbers were positive, rates were not; consequently, RevPAR levels have a long road ahead
- Occupancy is two-thirds on the way to full recovery; 2021 clawed back over nearly 19 pts of the 40 pts we lost in the Mar-Dec 20 period compared to 2019.
- Leisure sector fared very well, newer destinations emerged. Leisure destinations occupied the top 5 spots for ADR.
- Improved demand without sizeable corporate, MICE and crew usage, are a stand-out.
- RevPAR recovered of the slump that was caused in Mar-Dec 20 and is at a 52.5% level on the recovery road.