Tag: Indian hospitality sector

The Indian hospitality sector will suffer losses of over Rs 600 crore this year, a research report prepared by a hospitality consultancy firm has said. The branded hotel chain together with the standalone hotel segment is facing losses of over Rs 150 crore. The alternative accommodation segment, dominated by bed and baths (B&B), guest houses and small lodges, is likely to make losses of over ₹420-470 crore, the report by Hotelivate said. Layoffs of ‘casual staff’ or ‘contracted staff’ is likely, the research noted. This will amount to a weak Q4 FY20 and a weaker Q1 FY21. According to the ... Read more