HRAWI warns 90% of Maharashtra restaurants face closure under new COVID curbs
Hotel and Restaurant Association of Western India warns Maharashtra's COVID-19 restrictions effective April 5 will shutter nearly 90% of restaurants. Industry body urges state to compensate workers and waive statutory fees, taxes, and utility bills for operators facing devastation.
What happened
HRAWI warns Maharashtra's new COVID-19 curbs effective April 5 will force closure of nearly 90% of restaurants, devastating the hospitality industry.
Key facts
- 90%
Why this matters
Distressed restaurant assets and prime hospitality real estate in Maharashtra will hit the market within weeks—line up bridge capital and target consolidation plays at trough valuations.
Also reported by
- Moneycontrol — Same time
- Moneycontrol — Same time