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ICICI Direct Report
With the improvement in macro indicators in terms of business as well as Covid-19 recovery rate, the hospitality sector is also expected to witness a revival in demand compared to Q2 FY21 though at a slower pace.
Occupancy levels have grown month on month since September 2020 to cross 40% in Q3 FY21, which is the highest since the beginning of the nationwide lockdown in March 2020.
The revival of the sector has primarily been driven by leisure ‘revenge travel' during weekends, festive season, weddings and food and beverage demand.
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