60% hotel operators think RevPAR will return to 2019 levels in 1-2 yrs
New Delhi: About 60 percent of the hotel operators believe that Revenue Per Available Room (RevPAR) will return to 2019 levels in 1-2 years. Another 20 percent believe the same can be achieved much earlier, in about 6-12 months, according to a survey conducted by property consultant JLL.
Around 53 percent of the operators think that major business cities are likely to see early pick-up in demand of hotel rooms.
The luxury hotel operators are likely to see pick-up in demand much slower. Some of them expect that it will take more than 2 years for them to reach 2019 levels of RevPAR.
Around 47 percent of the hotel operators expect to restart operations within two weeks of easing of lockdown. About 33 percent expect to restart within a week.
Almost all the hotel operators think that they will need capital infusion to restart their operations as the reserves they had have dried.
Around 53 percent of all the hotel operators had to shut down about 80 percent of their inventories during the lockdown.