After 2-year lull, hospitality sector anticipates 20% occupancy jump
India’s resumption of international flights at 100 per cent capacity after a two-year suspension due to the outbreak of the Coronavirus pandemic, is likely to be a big boost for the country’s hospitality industry.
The hospitality industry witnessed its worst financial crisis since 2008 due to the restrictions imposed all over following the pandemic-induced national lockdown in March 2020. Hopefully, occupancy levels and revenues will finally see an uptick.
Sonavi Kaicker, CEO, Neemrana Hotels says “after a tough two years, today is finally a day of celebration for the travel and hospitality industry. Although the industry has shown its resilience, the resumption of international flights will ensure a steady flow of inbound travellers. We expect the occupancy levels to improve by at least 15 to 20 per cent across the industry over the next fiscal. This will also help the standalone heritage hotels that were dependent on inbound business and did not have the infrastructure to adapt to the situation.”