The flight, hotel and travel bookings to the northern region had seen more than 20 per cent cancellations while many had rescheduled their travel dates and destinations.
Chennai: After witnessing a turbulent week of cancellations of flight, hotel and travel bookings, the travel sector, which includes airline, tourism and hotels can heave a sigh of relief with a ceasefire being announced between India and Pakistan. However, Kashmir will have to wait for at least six months before tourists return to the valley, finds the industry.
The travel stocks that had fallen 2-5 per cent around the weekend include, Yatra Online, EaseMyTrip and Thomas Cook India. The closure of 24 airports, including Chandigarh, Srinagar, Shimla and Jaisalmer had disrupted flight schedules, led to flight cancellations, diversions, and the rerouting of both domestic and international carriers. Indigo operator InterGlobe Aviation’s stocks saw 2 per cent drop close to the weekend. Indian Hotels company, ITC Hotels, EIH and chalet Hotels also saw a decline of 7 per cent.
The flight, hotel and travel bookings to the northern region had seen more than 20 per cent cancellations while many had rescheduled their travel dates and destinations.
“Many cancelled their trips due to the closure of airports. As far as leisure travel is concerned, many have rescheduled their destinations to other regions, especially destinations like Goa and Kerala,” said Rikant Pitti, CEO and co-founder of EaseMyTrip.
The travel stocks that fell 2-5 per cent around the weekend include, Yatra Online, EaseMyTrip and Thomas Cook India.
“In the last one week, we have seen 10-15 per cent cancellations at a national level and the cancellations for bookings to Jammu and Kashmir, Punjab, and Rajasthan were much higher. Hotel bookings are close to nil in Kashmir,” said Pradeep Shetty, president, FHRAI.
According to Pitti, Kashmir had seen 70 -75 per cent cancellations after the Pahalgam incident. Even after the ceasefire, it would take at least six months for tourism to get back to its normal levels in Kashmir. The summer season, which is the busiest season for Kashmir, hence would be a washout this time.
As far as the summer season for the rest of India is concerned, the industry is hopeful of returning to normalcy at the earliest.
“We are still watching the situation and it is early to assess the dip in business for the summer season,” said Shetty.
