A booming economy has every chain worth its salt building for the future, but there’s little to show for it this year and next.
Fake a call to any five-star hotel in Delhi or Bangalore, ask for a room and you might be surprised by the room rates.
$300 is the norm but it can easily go up to $450-500 if the standard room isn’t available! Room rates in the top 10 cities of India have gone up by 30-55 per cent in the last one year, which, says Manav Thadani, managing director, HVS International-India, is not a healthy long-term trend. It is likely to turn away leisure traffic as well as the lucrative conference segment from India.
No wonder all major international hotel companies are sneaking into India (some are making big noises as well!).
Posts
