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Supply surge checking hotel room rates
Luxury brands yet to restore 2007 charges; softening to stay for some time. With major hotel chains building about 80,000 more rooms, to be delivered over the next two to three years in various cities and tourist hotspots, hoteliers fear lack of any significant upside in room rates on existing properties over the next few years. Room rates will remain subdued and may not experience the five-year runaway
Luxury brands yet to restore 2007 charges; softening to stay for some time. With major hotel chains building about 80,000 more rooms, to be delivered over the next two to three years in various cities and tourist hotspots, hoteliers fear lack of any significant upside in room rates on existing properties over the next few years. Room rates will remain subdued and may not experience the five-year runaway
Will the Ibis fly?
InterGlobe’s Rahul Bhatia plans to roll out almost 200 mid-budget Ibis hotels eyeing the demand from young executives and the growing middle class. Will the move pay off? Scale holds the key to
Global hotels home in on India
Number of branded hotel rooms set to double to 200,000 in three years; foreign brands to have lion’s share.
Number of branded hotel rooms set to double to 200,000 in three years; foreign brands to have lion’s share.
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