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Lemon Tree Hotels Q1 depressed as second covid wave hits check-ins

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Lemon Tree Hotels Ltd's June quarter results (Q1FY22) give a sense of déjà vu. Yet again, the company’s revenues have been hit due to the covid-19 pandemic’s restrictions and lockdowns, which weighed on the domestic hospitality and tourism industry.

Occupancy levels declined in April compared with March with the increasing number of cases. Operations took a severe hit in the May with travel restrictions across key states amid the devastating second wave of the pandemic.

June saw occupancy levels start to improve. Overall, Lemon Tree’s consolidated revenues increased 3.7% year-on-year to Rs42 crore.

RevPAR or revenue per available room declined around 8% year-on-year and 53% sequentially to Rs700. Higher costs pushed the company to report

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COVID-19
United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
India
Cases: 34 321 025
Deaths: 459 652
Recovered: 0
Brazil
Brazil
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
United Kingdom
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Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
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