Christmas, New Year help hospitality firms' Q3 earnings as Covid curbs ease

Most hospitality firms, particularly the ones that have a strong presence in the leisure locations, report year-on-year growth.

Christmas and New Year holidays after a strong month-on-month recovery cheered the pandemic-battered hospitality sector, shows an earnings report for listed hotel companies for the third quarter of FY22. A higher vaccination rate coupled with the ease of travel restrictions was a confidence booster for travellers.

It was the best among the last seven quarters in which the hotel industry recorded the highest monthly room rates since the onset of the pandemic, companies said in investor presentations.

According to JLL’s Hotel Momentum India (HMI) released on Monday, the sector clocked a RevPAR growth of 100.3 per cent YoY in Q4,