Time for a fresh start!

Studios and vacation homes are huge investments and only time will tell how they cope up

It is true that the on-going pandemic has affected almost every business venture in the world. And therefore, with the clouds of uncertainty looming over heads of businessmen, there is nothing else for them to do but try and get back on track.

Every profession needs to adjust to the new normal (Photo: Shutterstock)

For instance, holiday properties like villas and estates are a result of massive investments that require a steady return. With everyone staying home, the owners are staring into a bleak future. “The opening of our homes is going to be a combination of people, process and technology. When I say people, it means getting your people completely aware and sensitised to the fact that we are in very different times,” says Devendra Parulekar, Founder, SaffronStays.

It is the same for the owners of luxurious sets. “Before the nationwide lockdown we accepted 4 bookings a day, but adapting to the new normal we have restricted that to one shoot a day,” says Rajesh Dembla, Founder, Sets In The City, adding, “We have seen a 90% decline in our bookings but are hopeful that it will get better by August.”

Sorting out financial leeway is another important step towards recovery. “We controlled our fixed costs, for instance, lease rentals. We spoke to the homeowners and as a first measure, all of them agreed to waive off the lease rentals for the period and also at the same time, expenses were brought down to bare minimum. That ensured that the cash position wouldn’t be impacted,” adds Parulekar.

The maintenance, too, requires huge manpower and regular checks and necessary precautions are important for their safety. “We have arranged for accommodation for our team at the premises so they do not travel and interact with other people. We are taking all the precautions as per government guidelines,” adds Dembala.