A Big No—No to Delicensing By Hotel Segment
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The hospitality segment in India is one of the primary segments to recover from the economic recession. In most of the Metros, the people to people ratio who were visiting the hotels are said to increasing at a great pace. Mumbai, as usual will be always high at approx 66%. The complete removal of the license must be done to encourage the growth.
According to the sources at www.propertykhazana.com, as many as 105 licenses are essential to set up the hotels in Maharashtra and it will take up to approx 2 or 3 years to obtain the licenses. This will in the long run, lead to the rise in the project prices. Furthermore, according to President of Hotel and Restaurant Association of Western India, “The immediate plan is to reduce the licenses and to bring in a change in the system”.
The hoteliers need to run from pillar to post to obtain the clearance. The license will increase the rate of assets by approx 11 to 16 %. Most of the Hoteliers are very hopeful that due to the rise in the tourists from western world the turnaround will be good.
According to the sources saying at www.propertykhazana.com, the government has decided to improve the Floor Space Index (FSI) to 6 in all the leading hotels in Maharashtra. This is because of the fact that the population is growing at a faster rate and it is becoming very difficult to obtain the land at decent rates. The hospitality industry will be suffering due to the epidemics, terrorist attacks, economic slowdown and inflation. The industry also saw a massive 51% reduction in the recession time in the year 2008-2009. One the situation limps back to normal, the shortage will be about 1, 62,000 rooms in hotels. Please visit the website www.propertykhazana.com for more updates.
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