Horwath HTL Market Report: India Hotel Market Review 2020
Jointly prepared by Horwath HTL India and STR, the annual report analyses hotel sector performance in an exceptionally challenging year marred by a global pandemic. It's a tale of massive occupancy drops, ADR and RevPAR declines.
For a more realistic insight, the reports presents performance for the Pandemic period (Mar-Dec) and Q4-20, alongside the full year. Full year Occupancy was 34.5%, the pandemic period was at 27.8%; however Q4-20 gives some heart with improvement to 37.9%.
Key Highlights
- Leisure show positive revival - Udaipur and Goa, Rajasthan, Agra, Mussoorie, Rishikesh, Coorg, Himachal; staycations within cities
- Weddings are back, even with curtailed sizes; business travel and MICE and awaited
- Mumbai, Delhi and Goa remained the lead major markets, at 40+% occupancy; Vizag topped with 43%
- Bengaluru and Pune hit hard by WFH for the IT sector
- Several key markets report pandemic period RevPAR in the 100's; Ahmedabad at the bottom with Rs. 672.
About Horwath HTL
Horwath HTL is focused one hundred percent on hospitality, tourism, and leisure consulting. Our services cover every aspect of hotel real estate investment, tourism, and leisure development. Our clients choose Horwath HTL because we have earned a reputation for impartial advice that will often mean the difference between failure and success. Each client project is unique, and they rely on us to utilize the experience we have gained throughout our 100-year history to assist them in achieving their goals. Being a global firm with 52 offices in 40 countries, we have successfully carried out over 40,000 assignments for both public and private clients. As part of the Crowe Global network, a top-ten accounting, and financial services network, Horwath HTL is the number one choice for companies and financial institutions looking to invest and develop in the industry.
For more information, please visit www.horwathhtl.com.
