For hoteliers the good old days of 1994
are over. Economic liberalisation that began in 1993 led to such a boom
that five-star hotels in Mumbai started charging room rates equivalent
to that in New York. But with occupancies going for a toss, hoteliers
today have pruned room rates steeply and are ready to bargain for discounts.
for the government
Despite the service sector accounting
for a whopping 51 per cent of the country's GDP and notwithstanding various
talks about incentives to the hotel industry, the hotel and tourism industries
remain a neglected lot.
should have more exhibitions, conventions and trade shows"
Stephen Rushmore is the president and
founder of Hotel Valuation Services (HVS) International, a global consulting
firm with offices in New York, Miami, Denver, San Francisco, Vancouver,
Mexico City, London, New Delhi and Singapore. In his entire career he
has visited more than 6,000 hotels and has appraised at least 1,000 hotels
all over the globe.
tag rings the bell for hotels
How does one five-star hotel differ from
another? Except for the location and some subtle variations in themes,
most hotels under this category are the same. All are expected to provide
luxurious and most modern facilities.
(Source: Financial Express)