In the third quarter of 2023, the Indian hospitality sector experienced substantial growth in its performance compared to the same period in 2022. This surge was predominantly attributed to a notable 15.6% surge in Average Daily Rate (ADR) year-on-year, leading to a 15.1% growth in Revenue per Available Room (RevPAR). JLL’s Hotel Momentum India (HMI) Q3, 2023 reported a slight 4.5% dip in RevPAR from Q2 2023.