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ICICI Direct Report
The strain on occupancy during times of restricted travel and subsequent low demand is expected to impact profitability of premium hotels even in Q2 FY21.
Although lifting of lockdown curbs, gradual relaxation of travel restrictions in domestic market would provide some breather QoQ, overall demand is expected to remain muted as change in consumer behaviour and social distancing norms will impact travel plans in the near term, which will also get elongated due to monsoon.
Hence, alternative revenue verticals like online food business, quarantine business of repatriation guests, stay for medical professional or even tie-ups with hospitals would continue to be key revenue drivers this quarter as well.
This demand, albeit temporarily coming with highly discounted room rates, is expected to provide some breather to hotel players in Q2 FY21E.
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