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Indian Hotels reels under corona impact
Occupancy falls 40-45% during March, says a report
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.
