High tariffs shifts demand to budget hotels
A fall in occupancy is a loss for 5-star hotels and probably a gain for no-frills budget properties, as shrinking travel budgets of corporates mark a shift from luxury to budget hotels. According to Raymond N Bickson, MD of Indian Hotels, in adverse times like this there is more and more need for value and it is the budget hotels that are doing exceptionally well.
![Gadgets 360 With Technical Guruji: Ask TG [February 24, 2024]](https://c.ndtvimg.com/2024-02/gfsjsqag_ask-tg_640x480_24_February_24.jpg "Gadgets 360 With Technical Guruji: Ask TG [February 24, 2024]")
