Amid continued recovery from the Omicron wave, India’s hotel industry eclipsed pre-pandemic comparables in occupancy and average daily rate (ADR) for three consecutive days during the second week of April, according to preliminary data from STR.
The three days (16-18) were the first of 2022 with both occupancy and ADR above 2019 levels in India. When using a running 7-day average, occupancy and ADR have been above 90% of pre-pandemic comparables since late-March. On Monday, 18 April, India recorded its highest ADR index of the year at 106% of the 2019 comparable. Occupancy surpassed pre-pandemic levels earlier in the year, reaching as high as 109% of the corresponding 2019 level on 25 March.
“With the Omicron wave behind us, traveler confidence has grown significantly, and leisure destinations have continued their momentum from the prior months,” said Matthew Burke, STR’s Regional Director – Pacific, Japan & Central South Asia. “Select leisure markets such as Himachal Pradesh, Goa, and Uttarakhand have seen significant occupancy levels throughout 2022, most times exceeding pre-pandemic levels. Business demand, which was limited after the Delta wave, has shown significant improvement post-Omicron with momentum continuing through April. While there have been early signs of increased COVID cases across some India markets, the country’s hotels have shown resilience thus far. Recovery from each wave has been better than the previous, and we expect that trend to continue.”
STR provides premium data benchmarking, analytics and marketplace insights for the global hospitality industry. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces. For more information, please visit str.com and costargroup.com.