The recovery in lodging in 2021 has been stalled by the restrictions and dip in demand in the wake of the second wave of Coronavirus (COVID-19) in April. Hotels turned into quarantine centres during the first wave of COVID-19 in 2020 became an important revenue stream as mobility restrictions and travel bans damaged traditional domestic and international demand.
In lodging, the fastest current value growth rate over 2021 is expected to come from short-term rentals, followed by hostels and campsites. With domestic tourism first to recover from the COVID-19 downturn, Indian tourists are turning to short-terms rentals as a safer option, where they can best limit contact with others and the reduce the risk of infection.
Within hotels, mid-market and budget are expected to witness the highest value (constant 2021 prices) CAGRs and return quickest to 2019 sales levels. These types of hotels are set to enjoy competitive advantages as affordability is a key attribute for consumers.
The recovery of international travel is expected to be delayed, due to impact of the second wave of the virus in 2021. As a result, within hotels, the luxury and upscale category is projected to see the lowest value (constant 2021 prices) CAGR and take the longest to return to the 2019 sales level.
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Understand the latest market trends and future growth opportunities for the Lodging industry in India with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This report originates from Passport, our Lodging research and analysis database.
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