Horwath HTL Sentiment Survey: India Hotel Market And The Impact Of COVID-19
Horwath HTL India has conducted a sentiment survey of the Indian hotel industry leaders and hotel managers to understand the depth of the impact of COVID-19 crisis, mitigating measures applied to limit the fallout and the areas requiring supportive measures. The assessment is provided in this sentiment survey report.
Key takeaways from Hotel Sentiment Survey 2020, India
- 32% of the respondents feel that impact will last for more than six months; while it is heartening to see that 33% feel the impact will last only for 3 months
- Almost three-fourth of respondents think that impact is 'much worse' than any other major crisis
- 87% believe that the occupancy impact for H1-20 will be greater than 30% decline, compared to H1-19; 56% respondents expect ADR decline of between 10% to 30%
- 85% respondents expect Total Revenue to drop by over 30%
- Majority of respondents think that domestic business and leisure travel is likely to hold up; significant fall is expected in foreign business and leisure travel
- To tackle Covid-19 in the immediate term respondents believe that most important will be to undertake cost control measures and ensure guest and staff safety
- GST waiver, tax rebates, loan moratorium are amongst top three elements identified as support from government / authorities
About Horwath HTL
Horwath HTL is the world"s largest hospitality consulting brand with 45 offices across the world providing expert local knowledge. Since 1915 we have been providing impartial, specialist advice to our clients and are recognized as the founders of the Uniform System of Accounts which subsequently has become the industry standard for hospitality accounting. We focus one hundred percent on hotels, tourism and leisure consulting and have successfully completed over 16,000 projects. If you have any questions, please contact James Chappell, Global Business Director at [email protected].