India’s hospitality business has witnessed a progress of 15.8% in RevPAR from October to December (This autumn 2023) over the identical interval final yr.

India’s hospitality business has witnessed a progress of 15.8% in RevPAR from October to December (This autumn 2023) over the identical interval final yr. Moreover, the sector witnessed a big progress of 31% in RevPAR at pan-India degree in This autumn 2023 as in comparison with Q3 2023. Complete no. of signings in This autumn 2023 stood at 82 resorts with 8,741 keys. There have been 15 resorts signed that had been conversions of different resorts. Conversions constituted 14% of the stock signed in This autumn 2023.

The Lodge Momentum India (HMI) This autumn 2023 outlines key insights from the sector together with:

• All six key markets continued to witness a year-on-year progress in RevPAR in This autumn 2023, in comparison with This autumn 2022 primarily as a result of pick-up in ADR ranges.

• Mumbai was the RevPAR chief in absolute phrases in This autumn 2023 with a 16% enhance in ADR ranges over This autumn 2022.

• Bengaluru noticed the steepest enhance in RevPAR progress in This autumn 2023, with a 31.9% progress in comparison with the identical interval within the earlier yr.

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