Goa hotels recorded the best occupancies and earned more too says report
- Hotels in
Goaearned a revenue of ₹9,000 per room, followed by Mumbaiand Delhi.
- There was a considerable increase in hotel reservations across all six major cities — Delhi, Goa, Mumbai, Chennai, Bengaluru and Hyderabad.
- This growth is driven by weddings and meetings, incentives, conferences and exhibitions (MICE), and business travel.
India witnessed a 244% demand increase in hotels across six major cities — Delhi, Bengaluru, Chennai, Goa, Hyderabad and Mumbai in the second quarter of 2022, according to Hotel Momentum India Report 2022.
This growth is driven by weddings and meetings, incentives, conferences and exhibitions (MICE), and business travel.
“The stellar performance of the hospitality sector over the past few months has boosted confidence levels of hotel owners and operators. This is further amplified by the return of the business traveler. Investors’ gaze has returned to the sector,” Sanjay Sethi, CEO of Chalet Hotels.
All six key markets continued to witness a year-on-year growth in revenue per available room (
Goa remained the leader in RePAR, with a 54% increase in hotel occupancy levels. The average daily rate of hotels in Goa was the highest in India, at over ₹9,000. Mumbai was second with an occupancy rate the same as Goa and RevPAR of ₹8,000. Delhi was at the third place with each room generating a revenue of over ₹6,000.
Bengaluru saw the steepest increase in RevPAR in Q2 2022, with a 660% growth compared to the same period in the previous year.
“As business travel and corporate off-sites continued to grow, summer holidays offered a further impetus to the overall demand resulting in a renewed confidence in the sector. We expect this momentum to continue over the next few quarters on the back of long weekends, festivals, weddings, events, and business travel evenly contributing to this growth story,” said Jaideep Dang, managing director - hotels and hospitality group,
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