Indian Hotels Company Ltd. (IHCL) reported another disappointing quarterly performance as occupancies remained subdued in domestic market. Further, overseas operation deteriorated as Covid-19 pandemic concerns increased in UK and Europe. Net sales declined by 74.5% YoY to Rs2,567mn, while EBITDA came in at negative Rs1,503mn compared to Rs1,605mn in Q2FY20. The company reported net loss of Rs2,521mn. Amid extended lockdown and resilience to leisure travel, occupancies plunged for the industry and IHCL. Further, lower demand led to sharp decline in room rates, denting revenue per available room (RevPAR). The management has guided that...