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Covid-19 fallout: Hotel industry revenue likely to slip by Rs 90,000 cr

Given the evolving scenario, the consultants said they have revised earlier estimates of the overall revenue loss that the industry would face in 2020

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During March, the occupancy in hotels across top 13 markets dropped by 53 per cent compared to the same month last year

2 min read Last Updated : Apr 29 2020 | 8:56 PM IST

India's hotel industry may lose Rs 90,000 crore this calendar year, devasted in the nationwide lockdown to control the coronavirus, said a report by HVS and Anarock.

"Occupancies across hotels in key cities witnessed a sharp decline, as travel restrictions intensified and India went into lockdown towards the end of March 2020," HVS-Anarock said in a newsletter.

Given the evolving scenario, the consultants said they have revised earlier estimates of the overall revenue loss that the industry would face in 2020.

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Topics : Coronavirus Hotel industry Hospitality sector Hospitality industry

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