Due to lack of business and fear of the coronavirus outbreak, Annapurna Hotel has decided to shut down their business completely until the situation improves.
The closure of one of the oldest 5 star archetypal hotel’s highlights the ongoing crisis in the tourism industry. As a result, many employees are on the verge of unemployment. To help the workers cope with the crisis, many have launched a voluntary retirement scheme.
The hospitality industry has been among the hardest hit by the pandemic. Other star hotels like Soaltee, Radisson, Yellow Pagoda and Hyatt are experiencing major profit plunge since the outbreak of COVID-19 in March.