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Business in Hotel segment shows a decline by 30 Percentage

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Due to worldwide economic shutdown because of the terror targets which India faced, the Hotel segment is facing a downtrend of 30% in revenues during this year as compared to the previous year. The impact has led to decline of hotel bookings all over the country. The President of Hotel Federation of India (FHAI) says at the www.propertykhazana.com that there would be a revenue shortfall of nearly Rs. 9800 crores in 2009-10 as compared between 2007- 08 and as such ordered the Finance Minister to help the Hotel segment by way of giving special considerations and a higher rank.
Due to advance bookings, the income generated in 2008-09 was nearly Rs. 33,000 crores which is said to be stable, but still there is a decline in the bookings because of the impact of Mumbai attacks on 26/11 and also because of the fear that has created for the visitors abroad. A source further adds at the www.propertykhazana.com that there was a decline by about 10-15% because of the 26/11 attack and also the worldwide economic shutdown.
If even the situation stabilizes, there would be fall by nearly 6-8% in 2009-10. The MD of Sarovar Hotels and Resorts Ltd say that there was great of loss income generation and downtrend in bookings, not much can be expected because of the winter season. As such, taking advantage of the situation, the properties are being given a new face-lift. For more and latest realty updates follow www.propertykhazana.com.
Source: NBTVLIVE

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