Tata Group hospitality arm Indian Hotels Company Ltd (IHCL) on Monday said that hotel bookings have slowed down in January and February 2022.
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In an exclusive interview to CNBC-TV18's Latha Venkatesh, Puneet Chhatwal, managing director and chief executive officer, said, "We are very much in a difficult position to predict what is happening. When it comes to December, we are for a good finish."
Chhatwal said the company is seeing a challenging environment in London and in the US. Cape Town is recovering, Dubai is resilient and Maldives is one of the beneficiaries of COVID-19.
He said, "The margins will improve as an industry we have been able to adjust our cost base, but saying that with 200 people in certain other states as 100 only is going to improve margin? I don't think so.”
Further, Chhatwal said it is good news that things are happening and there no complete lockdown.
For full interview, watch accompanying video...