Page 11 - Hotel Industry
Hotel industry says it lost Rs 1.3 trillion revenue in FY21, seeks help
The Indian hotel industry has taken a hit of over Rs 1.30 lakh crore in revenue for the fiscal year 2020-21 due to the impact of the COVID-19 pandemic, the Federation of Hotel & Restaurant Associations of India (FHRAI) said on Sunday. The apex industry body said it has submitted representation to the Prime Minister and a few other union ministers urging immediate support from the government to save the hospitality sector from imminent collapse and has requested for several fiscal measures for this. "The Indian hotel industry's total revenue in FY2019-20 stood at Rs 1.82 lakh crore. As per our estimates, in FY2020-21, approximately 75 per cent of the industry's revenues got wiped off. That is more than Rs 1.30 lakh crore revenue hit," the FHRAI said in a statement. The businesses are steadily closing and non-performing assets (NPAs) are rising, it added. Since March 2020, the industry has been struggling to manage its statutory and capital expenditure obligations. Repayment of ...
 "Hotel industry says it lost Rs 1.3 trillion revenue in FY21, seeks help")
Hotels across segments to take over 2 years to recover from pandemic: Study
Consulting firm Hotelivate expects daily rates and occupancy to remain depressed
 "Hotels across segments to take over 2 years to recover from pandemic: Study")
Hotel industry braces for tougher months ahead amid localised lockdowns
The recovery seen during the past two quarters is set to be disrupted
Hotel investment trading volume in India declines 84% in 2020: JLL
Hotel investment trading volume in India declined 84 per cent in 2020 as compared to the peak witnessed in 2019, according to global real estate consultant JLL
 "Hotel investment trading volume in India declines 84% in 2020: JLL")
Indian Hotels, Ambuja Neotia seek to expand partnership beyond 5 properties
Taj brand aims at larger presence in the east, Neotia says being persuaded to look at North East too
 "Indian Hotels, Ambuja Neotia seek to expand partnership beyond 5 properties")
Goa tourism department launches crackdown on unregistered hotels
Goa minister Manohar Ajgaonkar on Friday said the tourism department has launched a crackdown on hotels that are operating illegally
 "Goa tourism department launches crackdown on unregistered hotels")
A fourth of rooms at risk if Budget doesn't help sector: Hotel bodies
Urge infra status for hotels worth over Rs 25 crore, lower GST and income tax rates
 "A fourth of rooms at risk if Budget doesn't help sector: Hotel bodies")
Apeejay Surrendra Park Hotels signs on 320 rooms under management contract
Aims to have 60% such rooms, 40% owned, in three years as it goes asset light
 "Apeejay Surrendra Park Hotels signs on 320 rooms under management contract")
US hotel owners reeling under Covid pressure, brace for 2021: Report
US hotel owners are bracing for a difficult 2021, as the sector continues to reel from a historic drop in bookings caused by the COVID-19 pandemic, reported The Wall Street Journal (WSJ) on Saturday
 "US hotel owners reeling under Covid pressure, brace for 2021: Report")
Karnataka revises night curfew schedule; to come into effect from Dec 24
The movement of individuals shall remain strictly prohibited between 1 pm to 5 am in the state, except for essential activities
 "Karnataka revises night curfew schedule; to come into effect from Dec 24")
Staying safe from Covid-19 pandemic led to fast recovery in online biz
Revival in air travel, hotels, ride-sharing taking longer than expected
 "Staying safe from Covid-19 pandemic led to fast recovery in online biz")
First weekend tepid for Mumbai restaurants with only 20% outlets opening
This comes as restaurants grapple with a 33% patron cap and restricted business hours, something many say will delay recovery
 "First weekend tepid for Mumbai restaurants with only 20% outlets opening")
Hospitality finds little room in Kamath panel's debt restructuring plan
Majority of hotels do not meet the eligibility criteria of the RBI-appointed panel
 "Hospitality finds little room in Kamath panel's debt restructuring plan")
Unlock 5.0: Street cautious about prospects of multiplexes, hotels
Low occupancies, capacity restrictions and safety concerns could make it difficult to reach breakeven levels
 "Unlock 5.0: Street cautious about prospects of multiplexes, hotels")
Social with a distance: Restaurants try new ideas to attract customers
According to the Indian Food Service Report 2019, the industry was pegged at Rs 4.23 trillion in 2018-2019
 "Social with a distance: Restaurants try new ideas to attract customers")
After hotels, banquet halls to be opened soon at half capacity: Tourism Min
Speaking at a webinar organised by the PHD Chamber of Commerce and Industry, the minister said the tourism sector has faced severe challenges due to the pandemic
 "After hotels, banquet halls to be opened soon at half capacity: Tourism Min")
Indian hotel industries' Revenue Per Available Room down 43.5% in 2020: JLL
Mumbai continues to be the RevPAR leader in absolute terms, despite the decline of RevPAR by 81 per cent in Q2 2020 compared to Q2 2019
 "Indian hotel industries' Revenue Per Available Room down 43.5% in 2020: JLL")
Hotel industry presents wish-list of remedies in webinar with Piyush Goyal
Minister says he isn't anti-five-star, insists the state is willing to help, but hotels also need to come together as a sector
 "Hotel industry presents wish-list of remedies in webinar with Piyush Goyal")
Survival during pandemic: Hotel industry is betting on staycations
Fearful of flying and wary of a second wave, travellers are taking to their cars and heading for resorts, spas and even motels
 "Survival during pandemic: Hotel industry is betting on staycations")
Service robots may increase efficiency of Covid-19 impacted hotels: Report
The researchers noted that their project completed in March 2020 just as Covid-19 broke out and as the virus rendered non-essential travel impossible