Almost no sector has remained untouched by the impact of COVID-19 and the pandemic and especially one sector that came to a complete standstill during a lockdown for many months was the travel and tourism industry. While greenshoots have finally started to show and Oyo Hotels for example, is showing a steady 30-40 percent growth in its revenue and occupancy.
In an interview to Storyboard’s Ankita Saxena, Rohit Kapoor, CEO of Oyo India & South Asia spoke at length about how things will pan out in the year 2021 and what are the plans and the outlook for the year.
“During the lockdown alternate sources of revenue did open up, which are not very traditional forms of revenue. However, post August we saw a very steady week on week, month on month increase of 30-40 percent in revenue and occupancy which is a very strong trend,” he said.
“It is clear that the world over travel is again seen as a strong sector and we have seen what happened to the Airbnb’s initial public offering (IPO). So at least, the markets are seeing travel come back strong in the coming quarters and coming year,” said Kapoor.
For entire interview, watch the video