75% HOSPITALITY REVENUE WIPED OFF IN FY2020-21: FHRAI

It sought working capital support from the government with lowered interest rate to help hospitality establishments struggling to restart, and sustain, their operations

COVID-19 has torn a huge chunk out of the Indian hotel industry’s business. According to The Federation of Hotel & Restaurant Associations of India (FHRAI), the sector took a massive INR 1.30 lakh crore hit in revenue for FY 2020-21 due to the pandemic's impact.

The apex industry body revealed these figures while submitting a representation to the Prime Minister, Narendra Modi, and few union ministers. It urged the government to extend immediate support to the hospitality sector, which is on the brink of imminent collapse. It also requested several fiscal measures to help industry players protect their business and livelihood.