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COVID IMPACT ON HOTELS
Asset which sits in the balance sheet for years without moving, then suddenly wipes out all profit in a single quarterThe most dangerous number on a balance sheet is not always the one that looks wrong. It is often the one that depends heavily on management...- West Asia conflict may pressure hospitality occupancy, warns ICRA; FY27 estimate at 72-74%Hospitality sector occupancy is projected at 66-68% for early FY27, rising to 72-74% for the full year, according to ICRA. However, prolong...
- WFH 2.0 in Gurgaon? Haryana wants companies to adopt work from home to beat traffic, save fuelHaryana urges private firms to embrace work-from-home and staggered schedules to combat traffic congestion and rising fuel costs. This init...
- Tourism and hotel sector stocks: Time for a correction in business? Are analysts getting it wrong? 15 stocks from the ecosystemThe Indian hotel and tourism ecosystem has benefitted from the post-Covid travel urge. Occupancies were high, room rates firm, supply is, i...
- Dubai hospitality gets a nine-day breather during Eid al-Adha holidaysIn anticipation of the Eid al-Adha holidays, hotels across Dubai and Abu Dhabi are seeing a notable spike in reservations, a promising sign...
- After journalist's human rights query, India rejects allegations, defends democratic valuesIndia has firmly rejected claims of human rights violations. A senior diplomat highlighted the nation's constitutional commitment to justic...
- Indians may be roaming closer to home because of a war far awayIndia Tourism Sector and Iran War: Prime Minister Modi's call to curb foreign travel for a year aims to boost domestic tourism, conserve fo...
- Demand for cruises appears undimmed despite hantavirus and other onboard outbreaksDespite recent hantavirus and norovirus outbreaks on cruise ships, industry experts anticipate a record number of passengers this year. Man...
- IndiGo, SpiceJet & other travel stocks plunge up to 7%. Two big reasons whyTravel stocks, including IndiGo, SpiceJet, ixigo, Toman Cook and Yatra Online, fell sharply after Prime Minister Narendra Modi urged citize...
- From Paris to Phuket: The new logic guiding Indian summer travelIndian summer travel plans are shifting. Due to Middle East tensions and rising airfares, long-haul trips to Europe and the US are being re...
- IHCL remains confident of achieving all its goals: MD and CEOIndian Hotels Company Limited, IHCL, is successfully managing global and local challenges. The company is expanding its brand portfolio acr...
- Will Covid resurgence impact Indian stocks in 2023? Here's a two-face analysisRising Covid cases in China and the chances of new BF.7 Omicron sub-variant's rapid spread in India have left a section of investors a worr...
- ICRA expects hotel industry revenues, margins to return to pre-COVID levels in FY23"The improved operating leverage along with sustenance of cost-optimisation measures will support margins and accruals for hotels," it said...
- Groundhog Day for travel companies as new variant brings old worries“Hospitality stocks can be the worst hit (again) if lockdowns are implemented in various countries and travel from affected countries like ...
- LaLiT ready for stake sale, looks for strategic investorAs per the document, the investment also provides 'growth acquisition’ opportunities through buy-outs/management contracts with Bharat Hote...
- 270 branded hotels temporarily shut in India due to second COVID-19 waveWhile a sudden rebranding or a takeover does not happen due to the tortious interference clause in global hotel contracts, some hoteliers a...
- Treebo raises $6 million from existing investors; to strengthen defences against pandemicIt added that operational hotels of the company are audited on their compliance of Covid related safety standards and are accordingly given...
- Sales, revenue will be impacted in Q1, Q2 this fiscal due to COVID-19: TAJGVK Hotels & Resorts"We believe there will be impact in sales volumes, revenue and profitability for Q1 and Q2 as our hotel operations are presently shut and w...
- Hotels, hospitality sectors severely impacted by COVID-19 pandemic: JLLComing off a high performance base in 2019, the COVID-19 outbreak and the containment measures introduced by the government have resulted i...
- A third of hoteliers expect COVID-19 impact to last all through 2020: Horwath HTL surveyAbout 85% respondents expect an over 30% decline in total revenue for their hotels in first half of the year (January to June) compared to ...
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