Tag Archives: JLL

Goa records highest RevPAR in Q1 2021, Bengaluru saw sharpest decline: JLL

Goa recorded highest RevPAR in absolute terms, despite the single digit decline of RevPAR by 1.1% in Q1 2021 as compared to Q1 2020, revealed JLL’s Hotel Momentum India (HMI) Q1 2021. The report highlighted that Bengaluru saw the sharpest decline of 60.6% in RevPAR compared to the same period of the previous year. High demand from domestic leisure travelers make Goa the fastest recovering market in absolute RevPAR terms

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One in almost every five hotels signed in 2020 was a converted hotel

According to JLL, hotel conversions in India had seen a consistent increase, nearly doubling from 33 conversions in 2016 to 65 in 2019. However, the conversions plummeted to just 29 hotels in 2020 under the impact of the pandemic. The uncertainty in the market made existing or committed hotel owners adopt a cautious approach than take conclusive investment decisions.

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Mumbai leads in RevPAR, ADR & occupancy

JLL’s Q2 2020 performance trend chart revealed that Mumbai continues to be RevPAR leader in absolute terms despite the decline of RevPAR by 81% in comparison to Q2 2019. All key 11 markets in India witnessed a decrease in RevPAR Performance in Q2 2020 over the same period last year Mumbai continues to be the RevPAR leader in absolute terms, despite the decline of RevPAR by 81% in Q2 2020 compared to Q2 2019 Goa saw the sharpest decline in RevPAR in Q2 2020, with a 93.9% decline compared to the same period in the previous year. ‘Vande Bharat Mission’ remains a major demand generator for hotels in key cities. Total no. of signings in Q2 of 2020 stood at 7 hotels comprising of 673 keys, witnessing a decline of 83% of signings in terms of inventory over the same period last year. International hotel operators dominated signings over Domestic operators with the ratio of 63:37 in terms of inventory volume.

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Sale of hotel assets likely to increase in second half of year: JLL

India’s hospitality industry has declined sharply in the first quarter of 2020, as the COVID-19 outbreak impacts various segments of the sector. A recent report by JLL states, “Investment action will likely get deferred as the sector rebuilds itself after containment of COVID-19, however, we estimate that more assets may fall in the ring for sale in the latter half of the year.” While 2020 started with a strong deal pipeline estimated at about US$ 1 billion worth of tradeable assets, JLL’s findings reveal that growth and development is likely to slow down in the next two years and projects under development will likely get delayed and raising development finance will also become more challenging.

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