Indian Hospitality Sector Revenue Up 339.3% in Q2 - News

The Indian Hospitality sector grew rapidly in Q2 (April-June) 2022, owing primarily to increased demand for weddings, meetings, incentives, conferences, and exhibitions (MICE), as well as business travel.

According to JLL's Hotel Momentum India (HMI) Q2-2022, the sector witnessed a stellar 44.6 percent increase in Revenue Per Available Room (RevPAR) on a pan-India level compared to Q1-2022, when the sector was still emerging from the third wave of the pandemic. Additionally, corporate MICE demand has recovered in the form of corporate off-sites, team meetings, training, and so on.

With many corporate meetings and large-format conferences planned in the coming months, MICE demand is expected to rise.

In Q2-2022, the total number of hotel signings was 47, with 4,010 keys. Hotel signings increased by 90.9 percent in Q2-2021, compared to the previous quarter. Bengaluru led RevPAR growth in Q2-2022, increasing by 660.1 percent over Q2-2021, followed by Goa and Hyderabad, which increased by 564.5 percent and 326 percent, respectively.