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Q1FY22: Covid-19 second wave impacts recovery in ITC's hotel biz

Tuesday, July 27, 2021, 11:15 Hrs  [IST]
HBI Staff | Hyderabad

The second wave of the pandemic triggered a fresh round of mobility and travel restrictions leading to severe  disruptions, impacting the progressive recovery witnessed in H2 of FY21.

With  reduction in  new Covid infections and easing  of  travel  restrictions in  June’21,  domestic  leisure  segment  witnessed  an  uptick.  Focused  and  curated  packages  were  deployed  to  garner  business. 

Aggressive  cost  reduction  measures  continued  to  be  deployed  to  mitigate  the  impact  of  negative  operating  leverage. This, coupled with actions to augment revenue from curated offerings as referred above, led to a 50%  positive swing at the EBITDA level (+ INR 87cr) compared to the base quarter.

 
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