Many hotels to close down in 2021: Priya Paul

Priya Paul, Chairperson, Apeejay Surendra Group in her virtual session organised by the IHE addressed various issues is and will be faced by the Hotel industry. She said, “If you are an investor this is a good time to pick up distressed assets and coming into the market and sadly there are going to be many hotels that are not going to struggle through this, not because of the financial reasons but because their business is really uncertain. So some hoteliers will not be able to manage that. After 5-6 months of closure, it is quite difficult to restart the business and operate it. There are many hotels  that are running on loans and other issues that are outstanding. We will be clear by the end of February or March about whether particular hotels would reopen or not.”