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During the last few weeks, India has recorded the highest number of Covid-19 cases this year, with one Covid-19 related death being reported every five minutes a staggering figure that has left the country in despair.
At present, India has 3,487,229 active cases with more than 300,000 new cases being reported every day since last week. The hard-hit travel industry in India, which was just starting to show some signs of recovery in February and March, is now facing a major challenge.
Source: Visual Hunt/Trinity Care Foundation
Skift Research’s India-based senior analyst Varsha Arora sets out the enormous challenges the travel industry is now facing.
Pandemic takes the glitz out of luxury hotels as business traveling is crippled
Synopsis
New projects around the country will reduce the dependence on big city hotels to about 59% by FY25-26. Five years ago, the number was 69%.
Global mobility curbs have crippled business travel and with it, luxury business hotels from Brisbane to Boston. Leisure destinations worldwide have been slightly more fortunate, with ‘staycation’ demand from WFH (work-from-home) professionals helping prevent that segment of the accommodation industry from foundering.
India isn’t an exception to this global trend. In a report titled ‘Indian Hospitality Stats and Pulse report FY 2021’ shared
Hotel occupancy to remain low till FY24
April 18, 2021
Hotelivate sees 18.9% jump in FY22, but says the Covid surge makes forecasting difficult
The hospitality industry could be staring at a lull for at least the next two fiscal years. According to Hotelivate’s
Indian Hospitality The Sstats and Pulse Report, hotel occupancy may breach the 65 per cent threshold only by FY24, and pre-Covid average daily rate (ADRs) may be achieved by FY25.
Hotelivate, a consultancy firm, has forecast that FY22 will see a hike of a mere 18.9 per cent nationwide occupancy compared to FY21, which closed on March 31, 2021 with 33.8 per cent hotel rooms occupied. This is a de-growth of at least five years in hotel occupancy.
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