Indian Hotels reels under corona impact

Update: 2020-04-07 22:31 IST

New Delhi: As the coronavirus pandemic and the eventual lockdown has hit the hospitality industry hard, the occupancy level of the Indian Hotels Company Limited (IHCL), a subsidiary of the Tata Group conglomerate, fell to about 40-45 per cent, a report by brokerage firm AnandRathi said.

It noted that taking a considered decision, the company has kept only 60 per cent of its rooms operational which is limited to in-house guests.

The IHCL is an Indian hospitality company that manages a portfolio of hotels, resorts, jungle safaris, palaces, spas and in-flight catering services, including the famous Taj Group of hotels.

The report also said that in January and February, the IHCL witnessed good occupancy rate, but it depleted in March.

Tags:    

Similar News