Tourism Breaking News
Going by a recent report from JLL, more than 60 per cent of organised hotels in India have already shut and several others are operational with single-digit occupancies. The report also estimates that at least 30 per cent of hotel and hospitality industry revenue could be impacted if the situation doesn’t improve by the end of June 2020. Industry estimates indicate that in India, branded and organised hotels annual revenue is INR 38,000 crore (US$ 5 bn). Corporate businesses will be left with less money to spend on travel, lodging and entertainment. Behavioural changes will lead to reduction in socialising, which in turn will impact F&B in hotels. All this will impact GOPs and further reduce yields to hotel owners.
Read More »More than 60% of branded hotels in India already shut: JLL
