EIH - Impact Of Second Covid-19 Wave On Business And Way Forward: Nirmal Bang
The Oberoi hotel stands at a near empty Marine Drive during a lockdown imposed due to the coronavirus in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)

EIH - Impact Of Second Covid-19 Wave On Business And Way Forward: Nirmal Bang

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

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.

Click on the attachment to read the full report:

Nirmal Bang EIH Limited-Company Update-9 June 2021 (002).pdf

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