Profit

High tariffs shifts demand to budget hotels

PUBLISHED ON: September 4, 2008 | Duration: 1 min, 44 sec

   
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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.
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