Click to play videoMumbia: Hotels are slowly, but surely back in business. After a sluggish six months, travellers seem to be more willing to open their wallets. And this is reflecting in hotel bookings which have risen 5-10 per cent from January.
“It has got back to normal business, what we would do in summer season. The impact of slowdown on business due to terror attack has worn out. So, I would now say we are doing reasonably ok. That's what we were like if nothing would have happened on 26/11, we would have been doing with some slowdown, because of global recession,” says Managing Director Sarovar Hotels, Anil Madhok.
But hoteliers are still worried about low room rates, average room rates and yields continue to be 20 per cent lower than a year old levels and are yet to pick up. Some say it may take up to two years to go back to the profits seen in 2007.
“Sentiments of industries are changing and Indian companies are also starting to go ahead with pending business plans. Another one year to come back to 2007-2008 levels. However, signs of improvement are been seen,” says Managing Director Pride Hotels and president of Hotel and Restaurant Association SP Jain.
Hoteliers now hope that a stable Government at the centre, and increased tourism on account of the Commonwealth Games 2010, will help them come out of the woods.
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