20 new hotels deals signed in Q2 of 2021 having 2100 keys
Mumbai: Despite the continuing pandemic, as many as 20 hotel deals comprising of 2,100 keys were signed in Q2 of 2021 in the country. The domestic hotel operators dominated the deals over global chains with a ratio of 60:40 in terms of inventory volume.
Meanwhile, rhe demand for hotel rooms jumped 186 percent while RevPAR shot up 85 percent in the second quarter of the current calendar year as compared to the same period of the previous year.
RevPAR is Revenue Per Available Room. The RevPAR, however, fell 54 percent in Q2 of 2021 as compared to Q1 (Jan-March) of 2021, according to a study by JLL.
Goa has again emerged as the RevPAR leader with a jump of 360 percent in Q2 of 2021 as compared to Q2 of 2020. Mumbai saw the biggest jump in occupancy level registering 18 percent increase in Q2 of 2021. Down south, Chennai saw a growth of 100 percent in RevPAR which was followed by Hyderabad with 90 percent increase.
The supply of operational hotel inventory in six major cities increased by 14 percent in the second quarter of 2021.
“Whilst Q2 2021 has been extremely hard on hospitality sector given the brutal second wave, we take some encouragement from the way business has resumed. Flights are filling up; holiday destinations are running full house and we have witnessed pick up in wedding bookings too. F&B dining though remains slow and continues to be driven by home delivery orders. Operations have become a very tricky affair with managing employees and costs given sudden demand fluctuations,” said Jaideep Dang, Managing Director, Hotels and Hospitality Group, South Asia, JLL.