The economic slowdown has not deterred Indian Hotels Company’s expansion plans. The company opened one hotel a month in 2019 and it plans to maintain the same momentum in 2020. Speaking exclusively to CNBC-TV18, Indian Hotels' MD & CEO Puneet Chhatwal talked about the impact of coronavirus on businesses.

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“In 40 percent of times since we launched the Aspiration 2022, it would be fair to say that we have achieved 50 percent of the guidance. So we are ahead of our own guidance and with a change in accounting standards, it does look different because the EBITDA has increased with Ind AS 116,” said Chhatwal.

Talking about coronavirus impact, he said, “It’s premature to say in absolute numbers. We will have those at the end of this month...After the first week of March we will collect data and then refine them and see how much of it is attributable to coronavirus and how much it is for slowing down of GDP growth.”

“However, at the moment I do not see such a huge impact on domestic front. however, there might be a bigger hit in the Q1 of next year as people who plan ahead may be reluctant in making bookings at this point of time specially those travelling internationally,” added Chhatwal.

First Published:Feb 25, 2020 10:04 AM IST