According to JLL’s latest Hotel Momentum India Q4, 2022 report, the hotel room demand across both business and leisure destinations remained strong during Q4, 2022 primarily driven by business-related travel, MICE and weddings.
“RevPAR growth of 60.9 per cent YoY from Q4 2022 over Q4 2021 seems significant. Furthermore, the sector witnessed a RevPAR growth of 30.1 per cent QoQ between Q4 2022 and Q3 2022. This is due to higher levels of corporate travel in Q4 2022 compared to Q3 2022,” the report said. “The momentum of Q4 2022 is expected to continue in Q1 2023 remaining busy on the back of weddings, and recommencement of business travel post the year-end holidays. Business travel is expected to grow during Q1 2023 on the back of domestic corporate travel related to critical decisions prior to closure of the financial year.”
