Indian hospitality sector witnesses 11.4% YoY RevPAR Growth in Q1 2024: JLL

In the first quarter of 2024, the Indian hospitality sector experienced positive growth, with a significant increase in Average Daily Rate (ADR) driving Revenue Per Available Room (RevPAR) up by 11.4% compared to the same period in 2023. This growth was fueled by a rise in corporate travel, weddings, and MICE demand. The sector also saw a 5.5% increase in RevPAR from the fourth quarter of 2023, supported by strong occupancy levels and ADR growth. The outlook for the sector remains optimistic, with...