VIJAYAWADA: The 21-day lockdown announced by the Centre has resulted in huge losses to the hotel industry. Though, the quantum of loss is yet to be completely ascertained, the hoteliers, however, said they got some relief ollowing the three-month moratorium given by the Reserve Bank of India (RBI) on payment of loans and Goods and Service Tax.
Speaking to The New Indian Express, Vijayawada Hotels’ Association president Parvathaneni Ravi Kumar said almost all the hotels in the city were closed due to restirictions.
While guest rooms in all the hotels stayed vacant, except in some restaurants, which were supplying food online, there was no business taking place in majority of the establishments in the city and the daily losses would be more than `one crore, he added.
“With the normal life coming to a grinding halt following the lockdown in which the borders of not only the states but also districts remain closed to prevent the spread of coronavirus, there is no arrival of customers, resulting in huge losses,’’ he reasoned.
Observing that it would be a herculean task for the hoteliers to revive the business even after lifting of the lockdown and restoration of normality in the future, Ravi Kumar felt that the moratorium on payment of GST, term and working capital loans by the RBI and also the Centre coming forward to pay the Provident Fund of both the employees and employers, came as a breather to restarting the business.