Hotels should maintain pricing charts through the crisis: HVS

A recent report by HVS states, it is always difficult to recover rate degradation once demand picks up. The report also explains, “As per research reports, while India was not impacted significantly by SARS, global demand picked up within a month after the SARS epidemic was contained and travel bans were lifted, but hotels that had reduced rates significantly were not able to push their rates later. The industry could witness a similar revival in demand this time as well; over 90% of domestic hotels in China had resumed operations at the end of February 2020, just 2 months after the first Covid-19 case was reported in the country.”