Indian hotels have slowly started to show signs of recovery from the devastating impact of the COVID-19 pandemic’s second wave.
According to a monthly report by HVS Anarock, among Indian cities, Mumbai recorded the highest occupancy, i.e., 51 to 53 per cent on a month-to-month basis in June followed by New Delhi witnessing an occupancy of 39 to 41 per cent.
The revival has occurred mainly due to staycations and weekend businesses. In addition, as travel-related curbs began to ease in various states, the domestic air traffic rose by more than 47 per cent in June.
HVS Anarock’s President of South Asia, Mandeep S. Lamba added, “In June 2021, hotel occupancy in all major cities witnessed a month-on-month increase with the revival in leisure travel as restrictions started easing across states in India.”
Furthermore, the average daily rate (ADR) for Indian hotels improved to 14-16 per cent or ₹3,600-3,800 in June against the previous month. Indian hotels’ RevPAR (revenue per available room) jumped 93-94 per cent or ₹1,080-₹1,250 when compared to May.
Lamba continued, “Unlike the previous lockdown, hoteliers did not adopt a wait-and-watch policy but continued with their expansion plans, signing smaller properties with an increased focus on tier-III and -IV cities and towns.”
The HVS Anarock report said that the stocks of Indian Hotel Company Limited (IHCL) performed well.
