Hotels saw 39% drop in Revenue Per Available Room (RevPAR) in Q1
New Delhi: The hotels in the country saw 39 percent drop in Revenue Per Available Room (RevPAR) in the first quarter of the current calendar year as compared to the same period of 2020.
If only the top six cities in the country are taken, the RevPAR declined by almost half (48 percent ) in the first quarter of the current calendar year as against the corresponding period of 2020, according to a report by JLL.
The total number of hotel brand signings in in the first quarter of 2021 dropped by a massive 53 percent as compared to the corresponding period last year. The international hotel brands dominated signings deals in India as compared domestic operators. They beat Indian hotels in the ratio 54:46 in terms of rooms inventory in the first quarter.
The city of Bengaluru witnessed highest drop 61 percent in RevPAR as compared to the corresponding period of the previous year.
Goa occupied the top slot in terms RevPAR leader in absolute terms. Althoug the coastal state saw a drop of 1.1 percent in RevPAR in the first quarter. The high demand of hotel rooms by domestic leisure travelers is making Goa fastest recovering market.