Hospitality industry suffered loss of ₹200 crore during Christmas & New Year: FHRAI

Earlier during the 1st and 2nd wave of the ruthless pandemic, the Indian hotel industry administered a loss of over Rs 1.30 lakh crore in revenue for the fiscal year 2020-21.

The hospitality industry is in a position of huge loss antagonized by the resurge of COVID-19 cases that led to numerous booking cancellations in the festive season. The industry suffered a loss of around Rs 200 crore the Federation of Hotel & Restaurant Associations of India (FHRAI) said on Thursday to PTI.

Amidst the restrictions imposed by the Indian government, these industries will predominantly be adversely affected. The uncertainty swirling around poses an adverse consequence on the Hospitality and Tourism sectors in India.

“There were a lot of celebrations, a lot of events which were planned (around the New Year). Now, it is the wedding season. Meetings and weddings got cancelled. New Year and all those cancellations from Christmas till now have caused almost Rs 200 crore loss to the industry,” FHRAI Joint Honorary Secretary Pradeep Shetty told PTI.

“From 25th (December) onwards, there has been a drastic plummeting of the rates and occupancies in city hotels which are back to the pandemic levels of 10 per cent to 15 per cent occupancy and rates have also crashed,” he added on the growing concern of the new variant.

Earlier during the 1st and 2nd wave of the ruthless pandemic, the Indian hotel industry administered a loss of over Rs 1.30 lakh crore in revenue for the fiscal year 2020-21 due to the impact of the COVID-19 pandemic, according to the Federation of Hotel & Restaurant Associations of India (FHRAI)

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