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Expansion plans of Indian Hotels on track despite covid blues
₹90,000 crore in 2020, said the Hotel Association of India (HAI), which represents 300 hotels across categories.The current debt levels in the organized hospitality sector, which is barely 10% of the total industry, stands at ₹45,000 crore, HAI added.The hotel business has a negative outlook for the year with little hope of a revival, said Madan Sabnavis, chief economist, Care Ratings Ltd. Any company looking at expansion is operating on a medium- to long-term strategy, he added.“Given that the country has been under lockdown for almost a year, there will be a pent-up demand.