Luxury hotels, resorts lead industry's faster-than-expected recovery

The hotel industry demand has recovered at a sharper pace post Covid 2.0 than it did after last year's lockdown. Occupancies and average room rates (ARRs) have seen a substantial jump, especially in luxury hotels and resort destinations, where they have breached pre-Covid levels. An ICRA report has pointed out that the recovery was hastened by the easing of restrictions in Q2 FY2022.