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Dolat Capital Report
We anticipate hospitality industry to see modest improvement on sequential basis.
Industry wide occupancies is estimated at approximately 45-50% versus 35-40% in previous quarter.
Pent up demand, revenge travel, weddings, staycations have been the factors driving revenues.
Local lockdowns, curfews, restrictions and re-surfacing of Covid-19 fear in March have pulled back recovery pace.
International travel and corporate business has seen some green shoots but nothing impactful.
Average room rate is likely to witness a 5-10% uptick QoQ but yet expected to be down 30-40% YoY. ARR normalcy may only be achieved post the recovery in occupancies.
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