Hospitality has been hammered by the pandemic, thanks to a near total shutdown made worse by similar impact on travel and tourism worldwide. The state of the industry has prompted top hotel chains to predict that revival may take anywhere between one and three years.
They also anticipate permanent changes in the services offered, and see revival driven by domestic spending. Despite dark clouds, the one saving grace, according to Giridhar Sanjeevi, chief financial officer (CFO) of the Taj Group of Hotels (Indian Hotels Company or IHCL), is that the industry sees reduced action ...
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