Hyderabad: Badly hit by Covid, hospitality sector shows signs of revival
The hospitality sector is likely to pick up post Covid scenario, especially with the development of vaccine for coronavirus, in the city as a few hotel chains are looking at expansions by the time the vaccine comes up
Hyderabad: The hospitality sector is likely to pick up post Covid scenario, especially with the development of vaccine for coronavirus, in the city as a few hotel chains are looking at expansions by the time the vaccine comes up.
Hospitality was one of the sectors which was badly affected due to Covid.
With the fall in number of visitors, many had to face the problem of livelihood. With the number of Covid cases decreasing and thanks to the festivals, the sector has picked up to some extent. However, the experts in the field feel that the sector would be back on its tracks in the coming days, especially in cities like Hyderabad which is a home for big pharma companies and the work going on for development of vaccines for the coronavirus.
Two pharma companies, including Bharat Biotech and Biological E, are developing vaccines against coronavirus. Several government representatives including State Ministers and also the Prime Minister Narendra Modi visited the companies to take stock of the vaccine preparation. Recently, over 60 ambassadors and high commissioners of various countries had visited these two companies.
The hotels association members believe that the post-Covid situation is going to be a good one for them. Parag Sawhney, general manager of Westin said that the sector was affected by Covid. However, the future looks good for the sector with the development happening in the city. "We are in the process of expansion and we would have another unit in the city during the next year. The footfalls are likely to increase once the vaccine comes out," said Sawhney.
The hotels association believes that Hyderabad city would have advantage with the two major pharma companies involved in development of vaccines. The sector has good prospects as there will be more influx of foreign tourists to the city compared to any other city.
Hotels and Restaurants Association of Telangana (HRAT) vice-president Pradeep Kumar Dutt said that corporate travel would not be there for the next six months. The corporate travel would increase after the government takes policy decisions on the supply of medicine to other countries subsequent to the fulfilment of needs of the country.