Hotel industry expected to return to pre-Covid levels in FY23: Icra

Hotel industry expected to return to pre-Covid levels in FY23: ICRA (Photo: Bloomberg)

Domestic hotel industry’s revenues and margins are expected to return to pre-Covid levels in FY23, notwithstanding the potential impact on demand with further Covid waves, if any, according to an Icra report. The ratings agency expects demand to stem largely from domestic leisure/transient travel, although there will be gradual recovery in business travel and foreign … Read more