The hospitality sector witnessed 60.9% YoY RevPAR growth in Q4 2022: JLL
- IBEF
- February 16, 2023
According to JLL's most recent Hotel Momentum India (HMI) Q4, 2022, a quarterly hospitality sector monitor, the hospitality sector ended 2022 with a 90% year-over-year growth in revenue per available room over 2021, and the fourth quarter (October–December) recorded a 60.9% year over year growth in RevPAR over the fourth quarter of 2021.
The fourth quarter of 2022 (October to December) saw the hospitality sector continue to have good year-over-year growth in performance, particularly due to business travel, weddings, winter holidays, and festivities.
Additionally, the sector experienced a 30.1% increase in RevPAR from quarter to quarter over the third quarter of 2022. According to the report, this resulted from more business travel in the fourth quarter.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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