| dc.description.abstract | It has been more than a year since the Pandemic struck and brought the global economy to a
standstill. The lockdown and social distancing norms have impacted the lifestyle of society.
Some sectors like online delivery apps, online education sector, pharma sector, etc., greatly
benefited and saw tremendous growth in the last financial year. Some sectors like automobile,
hospitality, tourism etc. which were so adversely affected that their resurgence will be a big
challenge in the future. One such sector is the premium hotels sector. The luxury hotel sector
is bleeding as all the segments associated with the industry, such as corporate meetings,
weddings, family gatherings, tourists etc., have been paralysed.
The hotel industry in India was devastated by the onset of COVID 19 with a decline in revenue
across the industry as travel was almost completely halted in the initial months, and consumer
behaviour also changed concerning travel in the COVID era. The path to recovery for the sector
is showing slow growth, with some reports showing pre-COVID growth levels only possible
by 2023. This sudden shift in consumer behaviour has forced many players in the industry to
take proactive steps to mitigate the financial implications that they are currently facing. In this
context, it is essential to understand anti-COVID policies taken by different players in the
industry. These Covid19 regulations have impacted the overhead costs of the hotels. The
industry already recovering from losses due to the Pandemic is experiencing much lesser
margins. This has led to a change in the pricing model adopted by the hotels. | en_US |
