The emergence of the pandemic in India has meant that luxury hotels have been unable to rely solely on room occupancy, as tourist inflow for leisure and business has been significantly reduced. This has been more relevant for business hotels in urban areas where there is a large industry presence.
With many Indians continuing to work from home, the line between the office and home space has become increasingly blurred. This has resulted in monotony and fatigue for many consumers, as they are unable to take a break from their living environment.
The worst impacted area of luxury hotels in 2021 has been the business segment. This is directly linked to corporations limiting travel occasions for their employees as digital apps such as Zoom and Microsoft Teams have gained in popularity for holding virtual meetings, and offer an efficient alternative method with no additional costs.
The recovery of luxury hotels will depend on multiple factors. The first one being the ongoing rollout of vaccination programmes, not only domestically but also internationally as luxury hotels cater to both segments.
The pandemic has forced luxury hotels to increase their focus on cash preservation and optimising operations. This is because low occupancy rates have forced hotels to reduce their room rentals, impacting profitability.
As guests in hotels experience a number of common touch points in public areas such as doors, lifts, or in restaurants, in addition to the fact that they are staying a room that was only occupied several hours prior by another guest, concerns around hygiene and sanitisation have grown significantly amongst guests. The hygiene/sanitisation factor will be a key selling factor for luxury hotels during the forecast period as consumers return to travel, and therefore the feeling of safety would be essential.
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Luxury: includes luxury and upper upscale hotels. Would generally include 5-star hotels and above, but may include some “4.5-Star” outlets, provided that the brands positioning warrants it. The luxury classification is primarily determined by the brand’s positioning and marketing, which will be at the high-end. Brand examples include Marriott, Hilton, Sofitel and InterContinental.See All of Our Definitions
This report originates from Passport, our Luxury Hotels research and analysis database.
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