Sanjay Sethi, MD & CEO of Chalet Hotels, on Wednesday, said the business travel pick up will be strong.
“On business travel, we saw several industries pick up the pace, for example, we saw pick up happening in industries like IT, pharma, manufacturing, entertainment and even oil and gas. Therefore, we are confident that as soon as the lockdowns are removed, they will be back,” he said.
On F&B business, Sethi said, “The food & beverage (F&B) has hit us hard because it has been largely shutdown in every hotel of the country. So the F&B revenues collapsed during the quarter. However, we do hope that in the next few weeks F&B will open up and with that, we see a quick ramp-up.”
“The lockdown has affected all of Maharashtra, Karnataka and Telangana, which is where our hotels are. However, what has helped us during this time is the steady inflow of rental income from our real estate assets (office rental) and that continues to perform well,” said Sethi.
For the entire management interview, watch the video