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20-22% Price hike in the room tariffs is shown to begin this September -October.The price hike comes in the wake of a rise in demand for rooms because of International business and domestic leisure tourism. John Toomey,Dir. Of Marketing India, Marriot International Inc said,"Marriot will be hiking room rates by 20% in the last quarter as the city is witnessing a huge demand for rooms." Oberoi Hotelsroom rates have been increased from Rs 8,500 to Rs 10,500. HVS Internationals analysis for seven cities for the period April to August 2005 as against the same period last year shows that Delhi leads the way with the highest increase in room tarrifs at 46%. Citing reasons for the hike in room tariffs ,Manav Thandani, Managing Director, HVS International ,India explained,"The increase in room tariffs is largely because most markets across India have reached a saturation point and demand is also exceeding supply." Rattan Keswani ,Executive Vice President,Oberoi Hotels & Resorts Mumbai said," The correction in tariffs was expected sometime back. But the business conditions were not as buoyant as its at this point in time. Most hotels have increased their room rates from September 2005." Toomey added, "Over the next 2 years, room tariffs are slated to go up by 30-35 % while maintaining high level of occupancy.
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| Posted : 10/8/2005 |
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