As the Covid-19 outbreak hits companies hard, CFOs like Vaish are bracing for what many are referring to as the toughest phase in their careers.
At present, nine hotel chains, including Lemon Tree, Radisson Hotels and Intercontinental Hotels Group (IHG), are collectively offering 392 rooms as paid quarantine facilities (in Gurugram), according to the district administration of Gurugram. Their room tariffs have been capped at Rs 3,600.
The letter written by Ankit Agarwal, head of Oyo's procurement and supply chain states that the hospitality industry is critically dependant on people movement and interaction and the above actions have impacted the industry significantly.
After the televised address by PM Narendra Modi on the outbreak on Thursday, in which he urged the business community not to cut staff salaries, the ministry of labour and employment and ESIC sent out an advisory stating that ESIC requests all employers not to cut salaries of employees who are unable to work.
With fears around coronavirus fuelling rumours and misinformation on social media, the government has launched a chatbot on messaging platform WhatsApp to address user queries around the pandemic, and offer verified information and official advisories to the public.
Hotel bookings and room nights in pilgrimage sites are declining across destinations with travellers deferring all plans, said hotels, tour operators, and OTAs. The religious tourism business in India is a season agnostic business and many hotel chains have invested heavily in the space with ambitious pipelines.
The Federation of Associations in Indian Tourism and Hospitality (FAITH) has written to prime minister Narendra Modi stating the tourism industry is in dire straits because of the COVID-19 pandemic and is staring at mass unemployment and bankruptcies.
WhatsApp said The WhatsApp Coronavirus Information Hub has been launched to provide simple, actionable guidance for health workers, educators, community leaders, nonprofits, local governments and local businesses that rely on WhatsApp to communicate.
States like Delhi/NCR, Kerala, Gujarat, Karnataka, Maharashtra and Tamil Nadu were the worst affected, according to the startup which provides travel solutions to leading hotels and online travel agencies.
FHRAI has requested a complete GST holiday for the sector for a six-month period besides lenience in loan repayment. The association has also requested a reduction of bank interest rate by almost 200 basis points with immediate full transmission for working capital purpose.
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