Jhunjhunwalas increase stake in Indian Resorts to 2.1% in Dec quarter

Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala increased their stake in Indian hotels to 2.1% in December from 1.05% in September.

The trigger for this move could have been the economy opening up and shifting to brand leaders during the pandemic, and also consolidation in the hospitality industry, which is making it difficult for little gamers to survive.

The company’s NSE price closed 0.75% lower on Monday £126.

Although the travel and tourism sectors are hardest hit by the effects of the Covid-19 pandemic, it will flourish again in the post-vaccination period, MD and CEO Puneet Chhatwal of Indian Hotels Company Ltd (IHCL) said last month.

The travel and tourism sector is the hardest hit sector globally, and around $ 6 billion in loss is expected even in India, he said at the 2020 CII Partnership Summit.

“The future of travel and tourism is definitely bright. It’s an industry that will thrive. The question is how can we build the bridge between now and the next 18 to 24 months, after vaccination,” said Chhatwal .

Regarding the survival and revitalization of the sector, he said that reopening the service sector in general, and tourism in particular, requires the industry to be safe, attractive and economical for everyone involved.

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