Companies such as Carlson Rezidor are also expecting an increase in occupancies and room revenue this year. “All our budgets are about 10-12% higher than last year.
Google will be giving a high visibility to DJUBO's client hotels in exchange for a commission for Google on successful bookings.
According to JLL, most hotel transactions today are occurring at replacement, or a slight discount to replacement cost, keeping both the seller and the buyer content with the target price.
EBITDA for the quarter ended December was Rs 218 crore compared to 197 crore for the corresponding quarter of the previous year.
Jean-Michel has worked across international markets in Europe, Asia, Middle East and Africa.
India added about 7,500 rooms last year, compared with annual inventory increases of about 12,000 over the past three to four years, according to industry estimates.
The usual industry requests like granting infrastructure status to hotels with a project cost upwards of Rs 25cr from the current Rs 250cr have not been met in the Budget.
Small items like belts, cuff links, pocket squares and ties that cost between Rs 10,000 and Rs 20,000 are being bought with cash.
Industry associations had made representations to the finance ministry on the matter before the budget and had requested for the levy to be rolled back.
There have been multiple cases of exaggerated promises, misrepresentations, disagreements and conflicts with guests, hygiene issues and intimidations.
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