Tag Archives: President – South Asia

Mandeep Singh Lamba, President (South Asia), HVS ANAROCK, has said, “Our prediction is that we should reach pre-pandemic occupancy level around the 3rd quarter of 2022, and RevPar level at 3rd quarter of 2023. Bounce back will start in the middle of next year. As standards of medical fraternity will rise somewhere in the next year, most of the people will be inoculated and hopefully some vaccine will be there,” he said at a recent webinar.

Mandeep S Lamba, President (South Asia), HVS ANAROCK, during a webinar, has advised hotel owners in India to not sell right now. “This is not a great time to sell. But if your cash flows are not holding out and you have no other way of managing it, then there is no option but to sell. Other than that, I would advise everybody to hold on because valuations will be a little depressed if you sell now. So the best advice I can give hotel owners is that if you have the ability to manage your cash flows for the next 12 months, then just hold on,” he advises.

Mandeep Singh Lamba, President – South Asia, HVS ANAROCK, has said that the hospitality industry would see changes in terms of design and operations after the COVID-19 crisis is over. Speaking at the third TravTalk Digital Conclave, he said, “There are going to be some permanent changes that will happen in the industry, both in terms of operations of the hotels and in terms of design. We need to understand that this is perhaps not the last time we are seeing a disruption of this kind. It’s a reality which can hit us again, and hence we need to be far better prepared the next time. This crisis has stirred the industry into making some serious changes.”

The branded segment is expected to witness a revenue loss of US$ 3.55 billion to US$ 4.1 billion in 2020 and the second quarter of the year will be the worst hit, says Mandeep S Lamba, President – South Asia, HVS ANAROCK. “The overall revenue of the Indian hotel sector, including both organised and unorganised segments, is set to decline by anywhere between US$ 8.85 billion to US$ 10 billion, reflecting an erosion of 39-45 per cent compared to the previous year. Hotels will be unable to drive rates and may even seek to attract business at deep discounts,” he adds. With new confirmed cases being reported daily, the penetration of the COVID-19 virus in India has caused mass hysteria, the reverberations of which are expected to continue well into the second quarter of the calendar year 2020.