Hotels, Tourism Q2 Preview - To Witness Demand Rebound With Subsiding Of Second Covid-19 Wave: ICICI Direct
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ICICI Direct Report
Q1 FY21 saw a temporary moderation in demand due to the second Covid-19 wave during April-June.
Hotel demand, especially in the leisure segment, again started witnessing strong traction with most hotel companies reporting business volumes similar to Q1 FY22 in July 2021 itself with the subsiding of Covid-19 cases amid strong vaccination drive.
As per industry data, revenue per occupied room in some leisure destinations has already crossed pre-pandemic levels reflecting the encouraging trend in demand.
Corporate segment, which has remained a laggard so far due to work from home culture till Q1 FY22, has also been seeing some traction during Q2.
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