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Domestic travel in India to continue to aid hotel recovery in 2021
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India’s hospitality industry witnessed a decline of 54.9% in Revenue Per Available Room (RevPAR) during January to December (CY 2020) as compared to CY 2019, according to JLL’s Hotel Momentum India (HMI) Q4 2020, a quarterly hospitality sector monitor. With the revival of domestic travel, emergence of recovery indicators has come to the rescue of the sector.
The recovery of the sector has been primarily driven by leisure ‘revenge travel’ during weekends, festival season, weddings and demand of food & beverage. Total number of signings in Q4 2020 stood at 45 hotels comprising of 4,326 keys, recording a decline of 43.6%, compared to the same period last year. International operators dominated signings over domestic operators with the ratio of 57:43 in terms of inventory volume.
Domestic travel will continue to aid recovery for hotels in 2021: JLL
Indiaâs hospitality industry witnessed a decline of 54.9% in Revenue Per Available Room (RevPAR) during January to December (CY 2020) as compared to CY 2019, according to JLLâs Hotel Momentum India (HMI) Q4 2020, a quarterly hospitality sector monitor. With the revival of domestic travel, emergence of recovery indicators has come to the rescue of the sector.
The recovery of the sector has been primarily driven by leisure ârevenge travelâ during weekends, festival season, weddings and demand of food & beverage.
Total number of signings in Q4 2020 stood at 45 hotels comprising of 4,326 keys, recording a decline of 43.6%, compared to the same period last year. International operators dominated signings over domestic operators with the ratio of 57:43 in terms of inventory volume.
According to the report, the total number of signings in Q4 2020 stood at 45 hotels comprising of 4,326 keys, recording a decline of 43.6%, compared to the same period last year. International operators dominated signings over domestic operators with the ratio of 57:43 in terms of inventory.
Occupancy at business hotels to see ramp-up from March-April 2021
February 15, 2021
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Domestic leisure travel expected to continue to drive occupancies; F&B demand to continue to grow as eating out increases, albeit cautiously
The hotels and travel trade expects occupancies in business hotels to ramp up from March-April 2021 onwards as companies gradually lift travel embargo.
Furthermore, domestic leisure travel is also expected to continue to drive occupancies across the country and food and beverage (F&B) demand will continue to grow as eating out increases, albeit cautiously.
“We are already seeing signs of domestic business travel pick up in the new year and expect occupancies in hotels to come around March-April 2021 onwards, as companies gradually lift travel embargo,” said Jaideep Dang, Managing Director, Hotels and Hospitality Group, South Asia, JLL.