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A hotel here, a hotel there, a hotel everywhere

Feb 11, 2000

Anybody who writes or discusses the hotel sector nowadays only talks of falling occupancy rates and average room rates and the trying times that the Indian hotel industry is going through. These focus only on the demand side problems facing the industry. However it is important to see what the supply side scenario will look like in the future.

ITC Hotels:cutting losses in second quarter

Nov 1, 1999

ITC Hotels, the 76% subsidiary of tobacco major ITC Limited has improved its performance in 2QFY2000. It has cut back its losses from Rs 20 m in 2QFY99 to Rs 3 in the current period. Turnover showed a significant 20% growth to Rs 274 m.

Five-star hotels face excess capacity

Jun 11, 1999

The five-star hotel segment in the country is afflicted with excess capacity. Hotels are now competing with each other by offering heavy discounts. Currently, Chennai with a room base of 900 rooms is witnessing discount levels of 25%.

LaSalle says India is the place to be in

Jun 8, 1999

Indian is being touted as the next major tourist destination in Asia with no fewer than 6 hotel chains looking at investing in the Indian market.


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