About 3,900 hotel rooms in this portfolio are stable and performing, and about 900 are due for renovation and rebranding. The covid-19 pandemic was a difficult time for business hotels. Has demand for business hotels returned now? When the international business returns, there will be a big upside to hotels. We have to respond to opportunities, but our dominant strategy will be to stick to business hotels in gateway cities, which effectively are tier-I cities.

Source: Mint September 12, 2023 05:18 UTC