2nd covid wave drags Indian Hotels Co. back to operating losses
Indian Hotels made a loss of Rs149 crore at the Ebitda level. For perspective, Ebitda loss stood at Rs266 crore in Q1FY21 and the company had reported an Ebitda profit of Rs71 crore in Q4FY21
Hotel firms have been suffering since the covid-19 pandemic began. Various restrictions owing to the coronavirus have meant that occupancies took a sharp beating. The second wave halted the recovery path and this shows in The Indian Hotels Co. Ltd’s June-quarter results (Q1FY22).
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