According to the report, the sector witnessed a significant growth of 31% in revenue per available room in Q4 2023, compared to Q3 2023.The fourth quarter saw consistent growth in average daily rates due to factors such as weddings, corporate and social MICE events, leisure travel, and year-end festivities, as per the report.
Mumbai witnessed the highest growth in occupancy level, registering a 17.7 per cent increase in Q2 2021 over the same period last year. Chennai recorded 99.6 per cent growth in RevPAR followed by Hyderabad with 89.6 per cent, JLL said in a statement.