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.
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