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Nirmal Bang Report
In Q3 FY22, we expect a recovery in occupancy and average room rate on the back of easing restrictions in many business and leisure destinations. Experts opine that in some leisure destinations, the revenue per available room has been higher than the pre-pandemic levels.
Further, in the recent past, average room rate in business destinations like Mumbai and national capital region has also shown a sharp increase. We also note green-shoots in corporate travel and meetings, incentives, conferences and exhibitions events. Foreign travel is unlikely to recover to pre-Covid-19 level amid a third Covid wave globally.
The industry’s focus has shifted to controlling and reducing costs significantly, which includes redeployment of manpower, downward salary revisions, renegotiating terms with utility service providers (including internet, telecom, laundry, etc) and automation of business functions.
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