Hotel occupancy levels improved to 35% in Nov 2020: JLL

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Mumbai, Jan 5 | With the emergence of recovery indicators, the hospitality sector has also witnessed a revival in room night demand in the last quarter of 2020, as compared to the previous quarters of the year, global professional services firm JLL has said in a report.

According to JLL, occupancy levels have grown month-on-month since September 20 to cross 35 per cent sector-wide in November 2020 (as per STR or Smith Travel Research data), which is the highest since the beginning of the nationwide Covid-19 lockdown in March 2020.

The revival of the sector has primarily been driven by leisure ‘revenge travel’ during weekends and the festival season, weddings and food and beverage demand, the report said.

Goa, India’s most sought-after leisure market, witnessed considerable growth in recent months achieving a market-wide occupancy level of almost 55 per cent in November 20. Luxury and upper upscale hotels in Goa performed well in November 20, achieving healthy occupancy levels ranging between 60 and 70 per cent as compared to occupancy levels in November 2019 that ranged between 65 and 75 per cent.

“Domestic business travel is expected to pick-up pace from March-April 2021 onwards, as employees return to workplaces and travel advisories by companies are softened. Additionally, domestic leisure will continue to drive occupancies across the country. F&B demand will continue to grow as eating out will increase albeit cautiously,” said Jaideep Dang, Managing Director, Hotels and Hospitality Group, South Asia, JLL.

With regards to investments in the sector, 2020 started on a good note with two large transactions totalling Rs 547 crore. Despite investment activity being paused since March 20, there are emerging signs of re-valuations and a slow demand revival, improvised cost structures and reduced profit levels in the next two years. Serious investors are giving prominence to debt service ratios, operating costs and suppressed demand from corporate travel, conventions, conferences and exhibition business, JLL said.

Furthermore, travel restrictions preventing site inspections and poor visibility of future revenue streams have added on to timelines of investment sales. Investors are mostly inclined to evaluate operational assets in key markets rather than greenfield developments. This trend is witnessed across India, according to the report.

Investors will likely firm up investment decisions as performance cycle picks up and fear of missing good deals may drive the investment activity, JLL said adding that in 2021 expectations are that domestic travel will pick up pace from March-April and onwards.

Large restaurants in hotels with all necessary health and hygiene protocols could start seeing the benefits from this demand and wedding ceremonies will likely take centre stage again providing seasonal impetus to the hospitality sector. Furthermore, repurposing of brownfield hotel assets for alternate uses such as co-living, senior living and student housing facilities may start happening, subject to demand in specific markets.

Source: IANS

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From being a developer to a CEO in California, Manthan Dudeja's top tips to make money while you're still in college

From being a developer to a CEO in California, Manthan Dudeja's top tips to make money while you're still in college

Gone are the days when one had to finish school, college and subsequent years in getting trained to be able to sustain oneself with decent income. Today, what you earn eventually depends upon your skillset and how early you got started to build an expertise in your domain.

Manthan Dudeja, who currently lives in California and is still in his graduation years, understood the perks of starting early and is now a CEO who has worked across a plethora of jobs, from IoS programming to website development and blogging to trying his hand at Amazon Associates.

In conversation with this dynamic entrepreneur, let’s decode the various options for freshers to make a side income while they are still in school/college –

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Manthan explains how he started off by writing for blogs with whatever knowledge he had and with the help of internet, this could be by either writing for your own online blog, for instance Manthan was interested in Tech, so he was writing for his blog ‘TechCrack‘ or for someone else in the capacity of a content writer.

It’s not difficult to get started if you have the basic understanding to develop a ‘flow’ while writing a piece and the skill to write what suits your target audience.

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Your journey to become a digital marketer starts the day you take the step of self-educating yourself and learning the tricks to attract potential customers either by way of Google, Facebook, or any other digital platform by a host of scalable ways on the internet, undoubtedly, digital marketing is the hottest online work from home concept of this decade.

Manthan is today a successful digital marketer who has equipped himself with the advanced knowledge of online ads on various mediums and has effectively used these skills to generate incredible revenue over time.

These are some of the best ways to get started, according to Manthan, all

 

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