Chalet Hotels Q4 Review - Business-Focussed Locations Bear Brunt Of Covid-19: Nirmal Bang
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Nirmal Bang Report
Q4 FY21 results of Chalet Hotels Ltd. reflect continued weakness in corporate travel, both in domestic as well as international markets, especially in the information technology, IT-enabled services related industry.
Most hotels are located in core IT/ITES areas.
International travel still remains very weak and domestically most companies are still following work from home regime.
Therefore, occupancy for the company was weak as compared to the micro market average in Q4 FY21.
While the F&B business was witnessing strong revival with the food and beverages to room revenues improving up till February 2021, the F&B to room revenues ratio is still far off from the pre-pandemic average.
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