Market Report Mumbai
HVS Market Report - Mumbai Hotel Market - By Mandeep S Lamba and Dipti Mohan
Recovery in Mumbai's hotel industry is finally underway. Read on to know more.
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Topic - Market Report Mumbai
Market Report Mumbai
Mumbai's Rapid Hotel Recovery Faces Headwinds
Driven by domestic business travel and quarantine guests, Mumbai recaptured 65% of demand in February 2021 when compared with pre-pandemic levels. More importantly, group demand, which continues to lag in most markets worldwide, surpassed 70% of pre-pandemic levels during the month. Preliminary data for March showed a slowing in Mumbai’s demand amid rising COVID-19 case counts and subsequent tightened restrictions.