The Pandemic drastically changed the travel and tourism segment, which largely affected the hotel industry adversely. The global hospitality industry has faced several challenges and losses in business during the last 2 years. It caused downfall in room night demand, triggering cancellations and wedding were deferred along with other events planned during the period.
The increasing relaxations in restrictions are expected to be game changers in shaping the future of the hospitality industry, particularly in India. With relaxation in Covid restrictions across the country, many industry experts predict that travel will return to pre-pandemic levels within first quarter of current financial year. The pent-up demand is going to lead to a strong recovery for the industry. The start of summer is already witnessing large bookings in certain market segments. Hotels have start receiving bookings for events like Wedding, Conference and Meetings.
