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Hospitality sector continues rocking

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Indian hospitality industry registered burly growth in 2007-08 and even though hotels in Garden City, Hyderabad and Pune curved in slightly due to over ability, average room rates (ARRs) for branded hotels across star group carried on to observe strong growth in most cities. According to hotel consultancy HVS Hospitality Services, Delhi and Mumbai observed uppermost room prices in the country fixed for about Rs. 10,200 per night. Lastly, Bengaluru witnessed a small revise in room prices and it recorded a room price of Rs. 10,100 slightly less than Rs. 10,545 that it ruled previous fiscal.
Siddharth Thaker, Associate Director of HVS Hospitality Services said to www.propertykhazana.com that, “Generally the residences in most markets reduced as ARRS witnessed a hike. Going ahead, we will observe improvement in ARRs in coming 2 years and most of the markets have pointed out in terms of residences while revenue wise this was the better years for the hospitality industry.”
Taj Group of Hotels MD, Raymond Bickson said to www.propertykhazana.com that, “Crosswise board we registered residences of 75%. The revenue for per room this year is good and ARRs might reduce a little while tourism segment gazes burly.” Even if residences were not considerably advanced this year, hotels still handled good revenues owing to room prices.
Grand Group of Hotels, COO Farhat Jamal said at the www.propertykhazana.com that, “Right now Group runs 7 hotels in the country and has observed a growth of 22% previous year. It likely to be a constraint on revenue but did not make any big crash in 2007-08.” Peter Leirgeb President & CEO of Claridges Group of Hotels said that incomes were not crashed mainly as most hotels had started extracting in rupees in the 2nd half of the year.
Source: NBTVLIVE

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