The travel and hospitality sector in the country is back in business. After being hobbled for almost two years by closures, lockdowns, lay-offs and losses, the hotel industry seems to be jogging back towards profitability. All key operating metrics like revenue per available room (RevPAR), average room rate (ARR) and occupancy room rate (ORR) are way ahead of pre-pandemic levels during the first quarter ended June 30, 2022. With international travel set to pick up further in the second, third and fourth quarter, the second half of financial year 2022-23 is looking much healthier.
“While the occupancy room rate (ORR) remained above pre-pandemic level throughout Q1FY23 at around 65 per cent (up about 2 percentage points versus Q1FY20), ARR was on a rise in April (4 per cent)/ May (9 per cent)/ June 2022 (10 per cent) versus April/ May/ June 2019, respectively,” said a Motilal Oswal Financial Services report dated August 24.
The stock prices of some of the major listed hotels such as The Indian Hotels Company (Taj Group), Lemon Tree Hotels and Chalet Hotels have risen 50-55 per cent in the first seven months of 2022 suggesting active investors interest, according to a senior market analyst.
Boosting the recovery trends, the Union Cabinet recently enhanced the corpus of sovereign-guaranteed credit facility for small enterprises, Emergency Credit Line Guarantee Scheme (ECLGS), from Rs 4.5 lakh crore to Rs 5 lakh crore, exclusively for the hospitality sector. “The Cabinet has approved the proposal to raise the limit of Emergency Credit Line Guarantee Scheme for travel, tourism and hospitality sectors,” Anurag Thakur, Union minister for Information and Broadcasting said.
Bu hikaye Businessworld India dergisinin September 10, 2022 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Businessworld India dergisinin September 10, 2022 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
MEMORIES & IMPRESSIONS
Ratan Tata was an exceptional human being. He was a visionary leader, esteemed industrialist, and a humanitarian, who left an indelible mark on India and the world.
The Robotaxi Market
The robotaxi market is shaping up to be a high-stakes battleground as tech giants and automakers race to transform urban mobility.
And the Nobel Prize Goes to AI
The recent Nobel Prize T awards to AI pioneers affiliated with Google have sparked a broader conversation about Big Tech's influence on research and the limitations of traditional prize categories.
Ola Electrified
Once considered a trailblazer in India’s electric vehicle (EV) ecosystem, Bhavish Aggarwal’s Ola Electric now faces a major accountability crisis.
Sharp Slide in Industrial Output on Eve of Deepavali
India’s index of industrial production (IIP) saw a sharp reversal in August, contracting by 0.1 per cent, in stark contrast to the 4.7 per cent growth in July, mostly because of significant contractions in mining and electricity generation.
Heralding the Solar Era with Sustainable Electrification
RAJEEV KASHYAP on the economics of solar power, the hurdles in scaling it, and much more
A WELL-GREASED MACHINE
The OmniBook X14 laptop runs on first-generation Snapdragon X Elite, which bets big on Al-enabled productivity and battery life, but falls short when it comes to overall experience, says Deep Majumdar
DO NOT LETA HEALTH CRISIS RUIN YOUR FINANCIAL HEALTH
For a family of four living in a metro, it is recommended to opt for a family floater health insurance plan with a sum insured of at least Rs 15-20 lakh
Disruption Ahead: Beyond Organisation Charts and Structures
ALBERT EINSTEIN FAMOUSLY said, “We cannot solve our problems with the same thinking we used when we created them.
Dr. Rahul Shivajirao Kadam: A Visionary Leader Blending Sustainability, Innovation, And Social Empowerment
We are on the stage of global warming, and these technologies not only help prevent further damage but also leave behind a better environment for future generations.