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Hotel chains across the board look to raise room tariffs

Hotel chains such as ITC, Accor Hotels, and Sarovar are looking to upward revise their room tariffs owing to increased average occupancies and favourable demand-supply situation. The hike in rates could range between 8% and 10% this year. The Indian hotel sector is inching closer to the 70% average occupancy mark and the national average occupancy rate of around 66% in 2017-18 was the highest the industry has witnessed in almost a decade as per various industry estimates. A report by HDFC Securities in October last year said occupancy demand in the near future is projected to outgrow supply.

Read More at The Economic Times News date : 11 Feb 2019, Monday

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