MARKET SCAN
Luxury hotels resist slowdown in consumer spending and declining travel Our Bureau
T
he story of one of the most happening sectors in India is by and large encouraging.
Though the first quarter of the current fiscal saw a slowdown in consumer spending and declining travel, luxury hotels in metro cities like Delhi/NCR, Mumbai and Bengaluru resisted the trend and continued to maintain upwardly stable room rates and occupancies this year according industry experts.
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HRA Today
December 2019
With GST slashed from 28% to 18% , the luxury hotel market is pinning its hopes for an across the board revival in the last quarter of the calendar year. Industry experts had previously felt the 28% GST slab on luxury hotels in India made them among the most taxed in the world. According to them, luxury hotels in premier business cities such as Delhi, Mumbai and Bengaluru have maintained upwardly stable room
