Hospitality sector sees V-shaped recovery despite higher prices

The long weekend beginning this Thursday is set to be the best for the hospitality sector after two years of disruption owing to the Covid-19 pandemic as Indians head to domestic and international destinations in droves.

The hot destinations this time around include domestic favourites like Goa and Jammu and Kashmir, as well as international locations like Thailand. With the recent opening up of international aviation, well-heeled Indians are headed overseas as well.

“We are seeing pent-up demand and a V-shaped recovery in bookings for domestic and international destinations. Destinations like Goa, Kashmir, Himachal Pradesh, UAE, Maldives and Thailand have seen a good growth in bookings,” said Himank Tripathi, EaseMyTrip told Business Today TV.

Travel is up despite air fares going up by as much as 30 per cent due to high demand and the increase in aviation turbine fuel prices.

According to Cleartrip, international bookings have increased 80 per cent since the beginning of the year. Commercial international flight services resumed on March 27, prompting the well-heeled Indian travellers to plan overseas trips.

"For this Good Friday weekend, leisure holidays are in high demand. Bengaluru, Goa, Mumbai and New Delhi are the most common booked destinations,” a Cleartrip spokesperson added.

“At SaffronStays, we have witnessed weekday bookings go up by nearly 109 per cent in the past two months. Family and group travel is another big trend that we have observed in the pandemic. We have seen a 28 per cent rise in group bookings between February and March this year,” said Devendra Parulekar, Founder, SaffronStays.

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