REWIND 2021 - Troubled year for hospitality, retail and entertainment industries

At least 5% eateries shut down, malls claim 40% vacancy

As a particularly troubled year for hospitality, retail and entertainment industries draws to a close, more than lamenting about its losses in the year gone by, the industry is worried about the upcoming year. They fear 2022 will be a repeat of the previous two years. If so, it would make it the third straight year of heavy losses.

“The Omicron scare and restrictions imposed for the New Year’s Eve has a spine-chilling sense of deja vu in the industry,” said Chandrashekhar Hebbar, President, Karnataka Regional Hotels and Restaurants Federation.

The hospitality industry is one of the worst hit. “Of the over five lakh eateries we have in the State, at least 5% have permanently shut shop since the beginning of the pandemic. With work from home still being the norm, many hotels that had opened around workspaces have become unviable,” Mr. Hebbar said.