More aware global audiences are discovering nuanced regional Indian food through the work of a handful of Indian chefs.
Industry observers said the slump in sales exists across formats such as value and standalone and premium dining formats and has continued since April or even earlier.
The GST Council on Friday approved the proposal to reduce tax rates on hotels, which had been a long standing demand of the industry.
The GST (goods and services tax) rate on hotel rooms with tariffs of up to Rs 7,500 per night has been cut to 12 per cent from the existing 18 per cen.
"The government is sensitive to the needs of the industry," a government official said.
The association has stated in its letter that owing to the "unfair business practices of Oyo" receivables and losses to hoteliers in Karnataka amount to hundreds of crores.
The GST council of India has imposed 28% GST on hotel room tariff over Rs.7,500 and 18% tax on rooms with tariffs between Rs. 2,500 and Rs. 7,500.
This comes after ITC Ltd. moved the tribunal against the market regulator's order rejecting its contention that the sale should not be allowed because of related-party transactions.
India's organised food service market is estimated to have touched Rs 1,48,353 crore in 2018-19, according to a report by the National Restaurant Association of India.
Move to boost tourism; consensus unlikely on GST cut on auto.
Eat Street Hostilities with aggregators have led restaurants to take control of their loyalty programmes and discounts, tweaking schemes or starting new ones to bring in customers.
Deal to acquire Fortune Select Metropolitan pegged at Rs 35-40cr
Upon completion of his term as an independent director, Gautam Banerjee has ceased to be a director of the company effective close of business hours on September 9, 2019, IHCL said in a filing to BSE.
The food regulator is set to make such ratings mandatory for all restaurants along with presence of a food supervisor to monitor compliance of food regulation and ensure safety of food served.
"We have appointed merchant bankers for a possible sale of our Meininger business," it added.
Currently Sterling, a 100 % independently managed subsidiary of Thomas Cook (India) Ltd. (TCIL) has 36 resorts in India.
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