EIH - Impact Of Second Covid-19 Wave On Business And Way Forward: Nirmal Bang
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Nirmal Bang Report
We recently had a conference call with the management of EIH Ltd. to discuss the current business outlook. The key takeaways are discussed in this note.
- The company expects to de-risk it’s business model by increasingly adopting mixed use development in the hotels owned by them.
- Recovery in Q3 FY21 and Q4 FY21 was turning out to be good and vibrant. In the second Covid-19 wave, although there is no national lockdown, the lockdowns in different cities and states have affected the industry’s recovery to a great extent.
- Leisure travel was doing exceedingly well in Q3 FY21 and Q4 FY21 with some properties performing better than pre-Covid levels.
- Since international travel has not yet picked up, the company is losing on the high paying foreign travelers.
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