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Lockdown Impact

Day 9 | The occupancies and ARRs will take a massive hit in this fiscal: Suhail Kannampilly

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With the escalating number of the coronavirus positive cases in the country, Suhail Kannampilly, CEO, The Fern Hotels and Resorts, said due to the outbreak, the hospitality industry is facing an unprecedented crisis. This is probably one of the worst phases for the hospitality and travel industry worldwide. “Earlier, there have been no instances where the entire countries have been locked down. Due to this pandemic, the entire world economy has taken a massive beating. Though things have started easing out a bit in China, the other world powers such as the US, UK, Germany, etc., are still fighting it and it is going to take a long time to get a semblance of normalcy. As far as the Indian hospitality industry is concerned, it has suffered massively due to the complete lockdown. It is going to take a while for the industry to recover. In the short term, the first quarter of the new financial year will be hit the hardest as things stand. The situation should hopefully become better in the second quarter. However, it depends on how soon this virus is contained.”

He added, “This fiscal year is very challenging for the industry. The growth patterns are going to be shaken up. The occupancies and ARRs will take a massive hit. The impact will be across all the categories, however the luxury properties I believe will be the hardest hit. At The Fern Hotels and Resorts, we are very confident. We believe that the fundamentals of the company are strong, our team members are some of the sincerest and focused in the industry. I believe in our long-term vision and the strength of what India as a country has to offer.”

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