Hotel Occupancy Rate Hit Very Hard: ICRA

The attack of COVID 19 has severely affected the occupancy rate of India’s Hotel Industry for the next two-three months. The second wave of the COVID 19 has dropped the occupancy rates at the ground. It has dropped 45%.In the first few months of FY21 Demand was limited to Vande Mataram repatriation travelers, medical & Frontline workers, Stranded travelers & work-from hotel guests. RBI has decided to put the fiscal stimulus in COVID 19 affected sectors and it will be great for the Hotel industry