Occupancy at business hotels to ramp-up

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India’s hospitality industry witnessed a decline of 54.9% in Revenue Per Available Room (RevPAR) during January to December (CY 2020) as compared to CY 2019, according to JLL’s Hotel Momentum India (HMI) Q4 2020, a quarterly hospitality sector monitor. Jaideep Dang, Managing Director, Hotels and Hospitality Group, South Asia, JLL said, “We expect that occupancies in business hotels will ramp up from March/April 2021 onwards as companies gradually lift the travel embargo. Furthermore, domestic leisure travel will continue to drive occupancies across the country. F&B demand will continue to grow as eating out will increase albeit cautiously. We also expect investment activity to restart with serious investors evaluating quality assets on the back of performance cycle uptick.”