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ICICI Direct Report
The Indian Hotels Company Ltd. is witnessing strong traction in room demand in the leisure destinations.
Revenue per occupied room in some leisure destinations has already crossed pre-pandemic levels reflecting the encouraging trend along with the increase in average length of stay to five to seven days versus two to four days earlier.
Corporate segment, which has remained a laggard so far due to work from home culture till Q1 FY22, is also seeing good traction from Q2 onwards.
International destinations such as U.S., UK and Dubai are bouncing back with demand reaching 55-60% of pre-Covid-19 levels during Q2 versus 39% in Q1 FY22.
Also, doors are now open for foreign tourists from November 2021 onwards to visit India. This would drive revenues of the premium segment hotel rooms sooner than expected earlier.
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