As per to the sources saying @ the www.propertykhazana.com, there was some delay in commencing the blow in the hospitality industry in some of the economy sectors. Tenancy levels at the hotels catering to business voyagers had gradually fallen 5 to 10% from couple of years with the main flow witnessed in Bengaluru and in Hyderabad.
The industry professionals believe that, this is a recurring occurrence and there are others who think that there is still more to go. Droop in the stock markets, increasing the investment expenses and failing dollar has led to cause in travel and lodging rates by the conglomerates. If this carries on, then the business hotels will be in danger and May & June is a tilt phase for the business travel as it is a holiday time.
Pradeep Kalra, Senior VP in Marketing in Sarovar Hotels said to the www.propertykhazana.com that, “Business is affected, because of the stoppage dread. One more cause for immerse in tenancy is the increase in the airlines prices and this has crashed the business travelers.” However, a full-grown setback has not strike India Inc and the dread is affecting the business. IT companies have the main expenditure-cutting workouts, which are upset by rupee approval has embarked to affect Bengaluru and Hyderabad hospitality sectors.
Awadhesh Garg of Kotak Securities Ltd. said at the www.propertykhazana.com that the economic activity is on the turn down from January end. Owing to the increasing rates, companies are pressurized on their incomes; planned cost-cutting is leading to 5-10% fall in tenancy levels for the business hotels from June.”
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