Hotels Sector Check - July 2022 Industry RevPAR 5% Above Pre-Covid Levels: ICICI Securities

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..ICICI Securities Report.According to the India Hospitality Industry Overview 2019 by HVS Anarock, the hospitality sector was expected to perform at similar levels of growth as witnessed in CY19 fuelled by a swift recovery and demand pick-up in the second half of CY20. However, with the sudden disruption in business due to successive Covid waves in CY20 and CY21 globally and across India, the hospitality industry has seen a lot of volatility in occupancies and room rates over the last two years..As per HVS Anarock, industry occupancies fell below 50% in Jan’22 owing to Omicron impact before recovering to ~55% in Feb’22 and 61% in Mar’22.This momentum carried forward into Apr’22 with occupancies reaching ~65% (same as Apr’19) of pre-Covid levels and Apr’22 RevPAR at Rs3,803 or 103% of Apr’19 levels.May’22 industry RevPAR of Rs3,744 was 10% higher than May’19 (pre-Covid levels) while Jun’22 industry RevPAR of Rs3,803 was 12% higher than Jun’19 levels.In Jul’22, while industry ARRs were 8% higher than Jul’19 levels at Rs5,750, overall occupancy declined by 200bps in Jul’22 to 63% vs. 65% in Jul’19 resulting in Jul’22 industry RevPAR of Rs3,623 or 105% of Jul’19 levels..Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime. Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Hotels Sector Check - July 2022 Industry RevPAR 5% Above Pre-Covid Levels: ICICI Securities

Hotels Sector Check - July 2022 Industry RevPAR 5% Above Pre-Covid Levels: ICICI Securities

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