What is Gross Booking Value

The chapter discusses the adverse impinging of COVID-19 on Indian hotel business in general and on Hyatt Regency in particular. Large hospitality firms have major difficulties obtaining finances from financial institutions as the banks continued to have a poor lookout for the hospitality sector. In early phases of the pandemic, the measures which industry adopted in pandemics were related to prevention, pricing strategies, and maintenance efforts. The aid provided by government and human resources approaches also needs to be looked into. The hospitality and tourism industry needs to focus on their pricing schemes, which needs to be lower as compared to previous times. During the outbreak of the pandemic, a few of the hotels appeared to be forcing their workforce to go on non-paid leave and postpone business office and instrumentation upkeep. Seeking government aid or resources, the hotel industry appeared only be used as a last resort. The study confirms the bad shape of the hotels and their slow recovery after incorporating the various techniques of crisis management.