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<keyword id="136437" type="COMPANY" weightage="20" keywordseo="Lemon-Tree-Hotels">Lemon Tree Hotels</keyword> is India's largest chain of budget hotels, valued at a little less than a billion dollars, in an industry that is yet to fully recover from the lethal blow of the global financial crisis of 2008. However, the company's chairman and managing director, <keyword id="6370083" type="UNKNOWN" weightage="20" keywordseo="Patanjali-Keswani">Patanjali Keswani</keyword>, is confident that a turnaround is just around the corner, and is invested accordingly. “By 2025, I will be in 143 cities in India. It is a specific number. Right now, I am in 31, with Keys I will hit 44. With all the other hotels I am putting, I will be in 66 cities. I need to do a little more than double in the next six years,” Keswani told Business Insider, adding that the company would have about 10,000 rooms commissioned by the end of March 2020 and “it will time nicely with the turning of the cycle.” <div type="javascript" title="Custom" contenttype="Video"><cdata><![CDATA[
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 Here are the five big takeaways from the exclusive chat with Keswani. <div type="Slideshow" msid="68680694" hostid="261" title="Business Insider Stack: All you need to know about the future plans of Lemon Tree Hotels" firstImageMsid="68680695" slideCount="5"></div>

Business Insider Stack: All you need to know about the future plans of Lemon Tree Hotels

The hospitality industry is one of the fastest growing industries across the globe, contributing substantially to the world economy. In India, too, the hospitality business, spanning hotels, restaurants and tourism facilities, is growing at a rapid pace. So this can be a great career choice for many as India requires skilled and qualified workers in the hospitality space. 
 
If you wish to make a career in the fast-growing hospitality industry, you will find quite a few institutes that offer full-fledged three-year or four-year courses in Hotel Management. These institutes also offer industrial on-the-job training in reputed hotels. Business Insider India has compiled a list of top 5 institutes in Delhi-NCR that offer regular and short-term courses in Hotel Management. 
 
1. Institute of Hotel Management Voted as the best hotel management institute by the government of India for 5 years in a row, this prestigious institute is supported by the Ministry of Tourism. IHM offers a B.Sc. degree in <keyword id="2181519" type="UNKNOWN" weightage="100" keywordseo="Hospitality-Hotel-Administration">Hospitality &amp; Hotel Administration</keyword> and to join this course, one must clear the NCHMCT JEE, an all-India joint entrance exam held in April every year. The entrance test is conducted by the National Council for Hotel Management and Catering Technology. Other than the regular graduation course, IHM also offers short-term courses like Diploma in Bakery &amp; Confectionery and Craftsmanship Course in Food Production &amp; Patisserie. 
 
2. Indian Hotel Academy 
Run by Gautam Budh Educational Society, a non-for-profit, registered organisation, IHA is recognised in the field of hotel management for its training excellence. It is an authorised learning centre of Mahatma Gandhi University, Sikkim Manipal University and Leeds Metropolitan University (UK). Students who have passed their 10+2 exam can get admitted here if they can clear a written test, followed by a group discussion (GD) and a personal interview. 
 
3. <keyword id="2181522" type="UNKNOWN" weightage="40" keywordseo="Jagannath-Institute-of-Management-Science">Jagannath Institute of Management Science</keyword>, Lajpat Nagar 
Known to deliver top quality management courses, the Hotel Management curriculum of JIMS is designed to inculcate international standards. The ‘Think Global, Act Local’ philosophy is the guiding force behind the education and training of students. The elite institute offers intermediate students a bachelor’s degree in Hospitality Management, Catering &amp; Tourism that not only teaches culinary skills but also imparts training in other key areas of the hospitality industry. 
 
4. GD Goenka School of Hospitality, Gurgaon 
The GD Goenka School of Hospitality has come up with a three-year concentrated study programme, known as Bachelor of Hotel Management. BHM is designed to combine hard-core management skills with soft communication skills, both of which are required for the hospitality industry. The institute is located in GD Goenka Education City, Gurgaon. 
 
5. <keyword id="418475" type="ORGANIZATION" weightage="40" keywordseo="Delhi-Institute-of-Hotel-Management">Delhi Institute of Hotel Management</keyword> 
Started as the Food Craft Institute in 1983 by the Ministry of Tourism, it was upgraded in 1999 to become Delhi Institute of Hotel Management and Catering Technology. The institute offers a B.Sc. degree in Hotel Management and is one of the few government-supported hotel management institutes in and around Delhi-NCR. 
 
Image courtesy: Thinkstock

Top 5 Hotel Management Institutes In Delhi-NCR

<ul><li>EIH Hotels which operates the Oberoi, Trident chain as well as one of Delhi’s oldest hotels – Maiden, has seen its stock price battered since late February. </li><li>Chalet Hotels, which runs – Marriot, Hyatt and Novotel in India, saw its profits jump three times in Q4FY20 but even then the market fears saw its share price down by 2% on June 9.</li><li>The hospitality, travel and tourism industry being severely impacted due to the coronavirus pandemic.</li></ul>From Oberoi to <keyword id="2808667" type="PERSON" weightage="20" keywordseo="OYO">OYO</keyword>, the Indian hospitality industry opened doors for business on June 8, but the market is still skeptical of people booking rooms. The latest trigger for panic selling in the shares of hotel stocks came was the delay in declaration of earnings by EIH, which operates the Oberoi, Trident chain as well as one of Delhi’s oldest hotels – Maiden. <div type="image" title="EIH shares." msid="76281467" hostid="261"></div> However, EIH is not alone. Chalet Hotels, which runs the premier hotels – Marriot, Hyatt and Novotel in India, saw its profits jump three times to ₹42 crore in the quarter ended March 31. However, even then the market fears saw its share price down by 2% on June 9. With the hospitality, travel and tourism industry being severely impacted due to the coronavirus pandemic, almost all of India’s listed hotels have seen their share price tumble since February. “It is well known that the hospitality and tourism industry is the worst affected by the outbreak of COVID19 (coronavirus). This has been reflected in the stock prices of hospitality stocks, which have declined by 62% to 82% from their 52 week highs,” said a report by Nirmal Bang on the hospitality sector dated June 2. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hotels </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Share price change since the beginning of 2020 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Chalet Hotels </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-53% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">EIH Hotels </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-48.6% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Indian Hotels Company Limited </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-37.6% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Lemon Tree Hotels </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-60.4% </td></tr></tbody></table> India’s hotels were shut for almost three months due to the coronavirus lockdown, and only some opened up as quarantine centres for international returnees in May. Sanjay Sethi, MD &amp; CEO, Chalet Hotels while announcing initiatives like sanitized stay, deferred hotel construction said they will help in the near mid-term revival. “With the new regulations to open up the economy we are gearing‐up our portfolio for a quick scale up and eagerly waiting to welcome our guests,” said Sanjay Sethi, MD &amp; CEO, Chalet Hotels. However, the optimism of the hotel industry still faces a challenge – whether travel will actually resume anytime soon. With work from home and video conferencing being the new norm, business travel could be impacted. “Leisure demand will likely be the first to bounce back. Domestic corporate travel will depend on the economy,” said a recent report by STR realty. And the economy isn’t looking good. <div type="Article" hostid="261" msid="76274381" title="World Bank projects global economy to shrink by 5.2% in 2020" mstype="2" mssubtype="0"></div> For leisure travel, hoteliers are excluding ‘airline travel’ and are looking at weekend getaway spots or ‘<a href="https://www.businessinsider.in/business/news/oyo-mahindra-holidays-emirates-and-boeing-agree-people-wont-fly-for-a-while/articleshow/75731204.cms">driving destinations</a>’ as India opens its state borders. The hope for budget hotels Corporates, who are cutting down costs, could now turn to budget hotels that they consider safe and hygienic. And that’s what budget hotels like Lemon Tree, OYO, <keyword id="2870818" type="PERSON" weightage="20" keywordseo="FabHotels">FabHotels</keyword> are betting on. OYO Hotels &amp; Homes, FabHotels have all launched a spree of initiatives for sanitized and clean hotels to bring in consumers. “It has been a long wait, but we’re delighted to welcome our guests once again to our select hotels across India. All you need to do is look for a #SanitisedStay tag &amp; we’ll take care of the rest. #AtitiDevoBhava,” wrote OYO founder Ritesh Agarwal on Twitter. OYO’s rival in the budget hotels space – FabHotels too has gone in the similar route advertising “100% Safe Place to Stay” hotels. “From an economic standpoint as hotels and tourism in India have suffered unprecedented financial damage over the last 70 days, losing more than 20% of the annual business already, with a prolonged recovery expected now,” said Vaibhav Aggarwal, Founder &amp; CEO, FabHotels. SEE ALSO: <a href="https://www.businessinsider.in/business/news/parle-g-clocked-record-sales-in-may-it-may-be-because-broke-and-starving-migrant-labourers-could-barely-afford-anything-else/articleshow/76280162.cms">Parle G clocked record sales in May⁠— it may be because broke and starving migrant labourers could barely afford anything else</a> <a href="https://www.businessinsider.in/business/corporates/news/anand-mahindras-sanjivani-solution-for-cos-think-like-a-startup-and-do-a-marie-kondo-style-clean-up-of-portfolio/articleshow/76275190.cms">Anand Mahindra’s Sanjivani solution for cos – think like a startup and do a Marie Kondo style clean up of portfolio</a> <a href="https://www.businessinsider.in/business/corporates/news/titan-company-profit-revenue-growth-for-fourth-quarter-ended-march-31/articleshow/76266434.cms">Titan tightens cost enough to clock a 21% growth in profit⁠— the best in five quarters</a>

The owner of Oberoi and Trident defers results triggering a sell-off in India's hotel stocks

&#xa0;Come April 2017, India’s dream of ‘One Nation, One Tax’ would become a reality. With GST becoming operational, all kinds of goods and services will have to pay single tax instead of several service taxes they have to pay today. In keeping with the structure of India, GST will be levied concurrently by the Centre and the states. 
 
It is being expected that GST will be kept at less than 19%, however, a final decision is yet to be reached. While most commoners feel relieved by this as they won’t have to calculate so many taxes, the travellers in the country might be adversely affected. This is because the travel industry in India is growing at an accelerated pace, and at this time, levying a GST higher than the current <keyword id="6355686" type="COMPANY" weightage="20" keywordseo="Service-tax">Service Tax</keyword> would paralyse the sector. 
 <keyword id="3694039" type="PERSON" weightage="20" keywordseo="amit-kishore">Amit Kishore</keyword>, co-founder, Think Strawberries, a pioneer in Global Travel Products in the Indian market, told <keyword id="824043" type="COMPANY" weightage="20" keywordseo="Business-Insider">Business Insider</keyword>, “It’s (GST) an unknown commodity at the moment. We don’t know what the exact number would be. In normal case of GST, it is around 18-19%. But when it comes to the tourism industry, the centre has to be concessional otherwise the whole purpose of GST would be defeated. It will in fact defeat the whole purpose of promoting tourism.” 
 
“The government needs to be very realistic with the figure. There are several complex components that have to be considered in this case. But it will have to be in the single digit. Right now we have a service tax component in travel industry, which is fixed below 5%. The hotel side is different. I am just talking about the package side. Who do you pay? GST has to be paid at source. But in travel package sale, there are so many sources. Since the govt seems to be pro tourism, they will hopefully understand,” he said. 
 For example, countries which made GST operational much before anyone else like France, Italy and <keyword id="103" type="COUNTRY" weightage="20" keywordseo="Switzerland">Switzerland</keyword> have tourism tax slabs of 5.5 %, 10 % and 3.6 % respectively compared to the standard GST rates of 19.6 %, 20 % and 7.6 % respectively for other sectors. 
Most importantly, the air fares would rise an all time high. For example, even GST above 15% in domestic airlines will increase air fare for each person up to Rs 400 more, which is quite a deterrent for the sector. 
 Pradeep Kalra, Senior VP – Sales &amp; Marketing, Sarovar <keyword id="6368036" type="PERSON" weightage="20" keywordseo="Hotels">Hotels</keyword> believes, “…as is applicable in many countries, the rate of GST for the hotel industry in India should also be kept low. GST rates for hotel industry in countries like Indonesia, Sri Lanka, Indonesia, Malaysia, China, and <keyword id="3739" type="COUNTRY" weightage="20" keywordseo="Thailand">Thailand</keyword> are as low as 7 %, making these countries cost effective and popular tourist destinations. We feel a low tax rate of 5 % on the industry here for at least five years would benefit the sector and increase the tourists’ inflow, which is currently the lowest in the world considering the size of the country.” 
 
Seems like GST cap being planned is not too much of a good news for the travel sector! 
 
(Image: Pixabay)

Travel entrepreneurs are seeking lower GST rates, here’s why<o:p></o:p>

New Delhi, April 20 () The hotels and hospitality sector in India has declined sharply in the first quarter of 2020, as the COVID-19 outbreak impacts various segments of the sector, according to global real estate consultant JLL. Coming off a high performance base in 2019, the COVID-19 outbreak and the containment measures introduced by the government have resulted in a severe drop in foreign and domestic travel, across both the tourism and business traveller segments, the report 'India Hospitality Industry Review 2019' has said. "In the third week of March 2020, at an all-India level, the hotels sector witnessed a decline of more than 65 per cent in occupancy levels as compared to the same period of the previous year," it added. As travel restrictions around the world intensified further, second and third quarters of 2020 are likely to be similarly impacted, it added. At least 30 per cent of hotel and hospitality industry revenue could be impacted if situation doesn't improve by the end of June 2020. With more than 60 per cent of organised hotels in India already shut and several others operational with single digit occupancies, a recovery will be gradual, the report said. Industry estimates indicate that in India, branded and organised hotels annual revenue is Rs 38,000 crore, it added. "As the sector navigates turbulent times through the pandemic, growth and development of hotels in India is also likely to be impacted in the next two years. Any dry powder that is available today will focus more on buying operating assets rather than building new ones," JLL India CEO and Country Head Ramesh Nair said. The strong performance of the office sector was the key to robust hotel market performance across the top 7 business cities of India, the report said. "There are several macro factors that play favorably to India's hotel and hospitality industry. First and foremost, the massive domestic sector, which has also become travel savvy over the years, will likely drive the rebound as travelers extend their average length of stay at a certain destination," JLL Hotels &amp; Hospitality Group MD Jaideep Dang said. Secondly, India may get an increased share of manufacturing and logistics business that may bring back business travelers to the country in the medium term, he added. Focus on development could shift towards Tier 1 cities, which are fundamentally stronger business-driven markets, the report said. On debt side, new hotel development will be impacted as there will be limited lender appetite, particularly in more volatile resort markets. Investors led by private equity funds will be looking out for stressed assets as the working capital pain and reduced revenues will impact yields for existing hotel owners, it added. "2020 started with a strong deal pipeline estimated at about USD 1 billion worth of tradeable assets. Investment action will likely get deferred as the sector rebuilds itself after containment of COVID-19, however, we estimate that more assets may fall in the ring for sale in the latter half of the year", the report said. Growth and development is likely to slow down in the next two years. Projects under development will likely get delayed and raising development finance will also become more challenging, it added. Depending upon an early containment of the pandemic, green shoots on transaction activity will likely appear towards third quarter of 2020, the report said. AKT HRS

Hotels, hospitality sectors severely impacted by COVID-19 pandemic: JLL

New Delhi, Apr 29 () India's hotel industry is estimated to face a whopping business loss of Rs 90,000 crore during this calendar year, as all hotels are closed due to nationwide lockdown to control coronavirus disease, according to a report by HVS and Anarock. "Occupancies across hotels in key cities witnessed a sharp decline, as travel restrictions intensified and India went into lockdown towards the end of March 2020," HVS-Anarock said in a newsletter. Given the evolving scenario, the consultants said they have revised earlier estimates of the overall revenue loss that the industry would face in 2020."We expect the overall revenue of the Indian hotel sector to decline by approximately Rs 90,000 crore in 2020, reflecting an erosion of 57 per cent compared to last year," the newsletter said. Out of total revenue loss likely to be faced by the hotel industry, organised hotel operators are estimated to face a revenue loss of over Rs 40,000 crore. During March, the occupancy in hotels across top 13 markets dropped by 53 per cent compared to the same month last year. For the full year, the report expects a decline of 48 per cent.The average daily rate (ADR) fell 7 per cent in March to Rs 5,690 compared with the corresponding period of the previous year. HVS is a leading global consultant for the hospitality sector and helps companies in financing, developing, owning, or operating a hospitality property. It has a team of more than 300 people with over 50 offices across the world. In India, it has partnered with Anarock to tap more opportunities. MJH RUJ

Hotel industry revenue likely to fall by Rs 90k cr in 2020 due to COVID-19

New Delhi, Jun 9 () Apex industry body FHRAI on Tuesday said it has issued a guidebook listing all measures to be taken by hotels and restaurants to ensure prevention of COVID-19. The comprehensive guidebook covers all functions of hotels and restaurants that are essential to everyday operations. From guest rooms and room service to housekeeping to laundry care, the manual provides step-by-step instructions on best practices, FHRAI said in a statement. The 44-page manual has detailed instructions on training of staff on food handling, deliveries &amp; takeaways, food transportation and distribution, it added. "The manual is an exclusive guidebook for the hotel and restaurant industry and has been designed in association with the Food Safety and Standards Authority of India (FSSAI)," FHRAI Vice President Gurbaxish Singh Kohli said. Everyday activities will be required to be put under a microscope since safety of guests is paramount, he added. Federation of Hotel &amp; Restaurant Associations of India (FHRAI) has been holding food safety and training certification (FoSTaC) training programmes designed by the FSSAI and has trained more than 2,000 people under it, the industry body said. AKT BAL

FHRAI issues guidebook for hotels, restaurants to prevent COVID-19 spread

India, be prepared to offer best of your <a href="http://www.businessinsider.in/searchresult.cms?query=hospitality">hospitality</a> as soon there is going to be a flood of tourists in the country. 
 
After <a href="http://www.businessinsider.in/searchresult.cms?query=Narendra+Modi">Prime Minister Narendra </a><a href="http://www.businessinsider.in/searchresult.cms?query=Narendra+Modi">Modi</a>-led government extended <a href="http://www.businessinsider.in/searchresult.cms?query=e-tourist+visa">e-tourist visa</a> facility to nationals of 76 countries, experts are of the opinion that this move will give a boost to tourism in the country. 
 
Earlier, India offered <a href="http://www.businessinsider.in/searchresult.cms?query=visa+on+arrival">visa on arrival</a> to nationals of 12 countries. 
 
So, hoteliers can expect some brisk business in the second half of this financial year. 
 
The <a href="http://www.businessinsider.in/searchresult.cms?query=tourism+industry">tourism industry</a> is expecting 15% growth in foreign tourist arrivals in the current fiscal over the previous year. In the past three years, the industry witnessed annual growth of about 10% in the past three years. 
 
In 2014-15, foreign tourist arrivals grew 8.2% over the previous year to 77 lakh. 
 
"Given all the push and impetus given to tourism by the central government and the fact that overall we are seeing more interest from foreign tourists -both corporate and leisure -the growth might be trumping what you have seen in the past and you could see a 12-15% year-on-year growth in foreign tourist arrivals this year," Achin Khanna, managing director for consulting and valuation practice at HVS South Asia, told Economic Times. 
 Under the <keyword id="2808505" type="UNKNOWN" weightage="100" keywordseo="e-tourist-visa">e-tourist visa</keyword> scheme, foreign nationals can apply for a visa by uploading their <a href="http://www.businessinsider.in/searchresult.cms?query=passport">passport</a> and photograph and paying the visa fee on line. 
 
Then the concerned authorities will send an electronic travel authorisation, or e-visa, via email within 72 hours. 
 
As per the he tourism ministry, the number of tourists under the e-tourist visa scheme grew to 1, 26, 214 in the six months to June. 
 
Following economic slowdown, India's hospitality industry has been in the doldrums over the past few years. 
 
Several <a href="http://www.businessinsider.in/searchresult.cms?query=hotels">hotels</a> slipped into the red amid falling check-ins and declining room rates. 
 
"The hotel industry is likely to see a highly reduced new supply of 4% in 2015-16 which would result in occupancies showing an increase of 5-6% over last year along with a corresponding gentle increase in average daily rates leading to a top line growth for the hotel industry of 6-7%," Mandeep Lamba, MD, India, hotels and hospitality group, JLL, told ET. 
 
(Image: Indiatimes)

India awaits foreign tourists from 76 countries with open arms, thanks to e-tourist visa

<ul><li>Indian hotels have had a long down cycle and it is now turning around, says <keyword id="6370083" type="UNKNOWN" weightage="20" keywordseo="Patanjali-Keswani">Patanjali Keswani</keyword>, founder of Lemon Tree Hotels.</li><li>Demand is growing faster than supply of new hotel rooms after a decade, according to analysts.</li><li>The changing dynamic in demand and supply may lead to a spike in hotel room rates.</li></ul> The wave is turning for India's hoteliers after a decade of anguish. The number of travellers seeking accommodation is growing faster than the rise in new hotel rooms for the first time since the global financial crisis struck a lethal blow. And Patanjali Keswani, the founder and chairman of Lemon Tree Hotels, believes the turnaround may be so strong that hotel rooms rates may double in the next three years. "My expectation is from October this year, for the next two years -- because it takes about five years for new supply to come in-- prices will keep going up. Then,the returns (on capital) will improve and new guys will plan their supply because then it will be a business worth investing in. But it will take a few years for that supply to come in. I guess, just like how it was the longest bottom-up cycle for hotels in India -- from 2009 to 2017-18 -- it will be a long top-up cycle because people who invested in hotels in India in the last 10 years have been so badly burnt, you will need a very brave guy to take a counter view. So my guess is, if you ask me what the room rates will be three to four years out, I will say it may be double of what they are today," Keswani said in an interview with Business Insider. Industry watchers agree with Keswani. Demand is expected to grow at a compounded annual rate of 6% until financial year 2022, that's one and a half times the 4% growth expected in new hotel rooms, according to advisors at Nirmal Bang Institutional Equities. Even now, average <keyword id="7487693" type="UNKNOWN" weightage="20" keywordseo="hotel-room-rates-in-india">hotel room rates in India</keyword> are still 30% below what they were at the end of March 2008, according to Axis Capital, which also sees definite signs of a turnaoround. Hotels raise prices when the occupancy rates cross 70% and the industry-wide rate last year was already at 68%, Keswani explained. Lemon Tree Hotels has an average occupancy of close to 80%, according to Keswani. The company has already hiked prices twice in the last two years. "In October 2017, we got a 13% price hike (in average room rate) and in October 2018 we got a 8.5% on a higher base. We are expecting similar, if not higher, price hike going forward because now, there is clearly a shortage of supply," he added. 
 
 
 
 
 
 
 
 
 
 
 
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 What will drive the demand? Aside from the slowdown in addition of new hotel rooms, Keswani projects a sharp spike in demand triggered by economic growth. "There are 3 parts of India. Half of India is earning less than $500 per capita- these are people who consume roti (bread), kapda (clothes), makaan (shelter), and mobile. Next 40% of India's population earns upto $2000 per capita. These are people who consume healthcare and education, which are non-discretionary to them, and some minor discretionary items- could be entertainment, leisure and a little bit of retail. The last 10% of India is upto $7000 per capita. This is the real consuming population of India, about 30 million households," Keswani explains, adding that when the economy grows there will be an exponential growth in the consuming population. According to him, if the per capita income grows 50% in the next seven years, the size of the big consuming segment will be thrice its current size. And that is the boom that the hoteliers like Keswani are waiting for. SEE ALSO: <a href="https://www.businessinsider.in/business/lemon-tree-hotels-patanjali-keswani-says-company-will-sell-stake/articleshow/68665953.cms" data-type="tilCustomLink" target="_blank">Lemon Tree will sell stake in all its hotels in 3 to 5 years: Chairman</a> <a href="https://www.businessinsider.in/business/lemon-tree-hotels-is-eyeing-properties-in-new-york-bangkok-and-colombo/articleshow/68666574.cms" data-type="tilCustomLink" target="_blank">Lemon Tree Hotels is eyeing properties in New York, Bangkok, and Colombo</a>

Here's why hotel room rates  in India may double in the next 3 to 4 years

Mumbai, May 16 () Hotel and restaurant players on Saturday urged the government for giving relaxation for the sector during 'lockdown 4.0', at least in green and orange zones, that will help mitigate hardships faced by the industry.The apex hospitality association has proposed that hotels and restaurants in green zones be allowed to operate at 100 per cent and in orange zones at 50 per cent capacities, the Federation of Hotel and Restaurant Associations of India (FHRAI) said in a statement."Even today, containing the spread of the virus remains the country's priority. But we also have to take into account that the hospitality and tourism industry employs over 4.3 crore people. They are relying for their survival. Every lockdown extension is making it difficult for us to keep people employed and to sustain. "Since the government is relaxing operations for several industries to keep the wheels of economy moving, we are hoping that it allows our industry some relaxation too," FHRAI Vice-President Gurbaxish Singh Kohli said.Due to the lockdown to curb COVID-19 pandemic, the industry is staring at a potential job loss of around 3.8 crore, which is 70 per cent of the total workforce."According to the World Travel and Tourism Council (WTTC), as many as 7.5 crore travel and tourism jobs are at risk worldwide, one in eight of them are in India. We hope to resume operations and adhere to all the safety measures and follow the compliances strictly. We stand united with the government for eradicating the virus and together we will show the way to the world in achieving this," Kohli added. SM MR

Hotel, restaurant players seek relaxations in lockdown 4.0

Mumbai, Mar 20 () Hotels in India are staring at a steep 20 to 40 per cent fall in occupancy rates during the three months ending May as lockdowns due to COVID-19 (coronavirus) escalate, a report has said. This is two to four times the impact the industry had seen during the 2008 global financial crisis, India Ratings said in a report. While the plunge in occupancy could be 30-40 per cent for mid-scale and two-star hotels, the same for four-star hotels and above categories could be 20-25 per cent for the next three months beginning March -- which is peak season due to summer holidays and weddings, the report said, citing the increasing number of cities going under full or partial lockdowns. On revenue side, hotels under the four-star or above categories could see 65-70 per cent fall in revenue per available room, while for two-star hotels it could be 50-60 per cent. "Occupancy rates across hotel categories are likely to fall to their lowest levels in the last decade, materially impacting earnings. The industry in general may face challenges in debt servicing. The crisis comes at the peak occupancy season due to vacations and weddings before the onset of the monsoons," the rating agency said. During the global financial crisis, the average absolute occupancy rates fell by over 9 per cent, with the highest fall being 10.40 per cent for four-star and above hotels, followed by three-stars at 8.5 per cent, it noted. "If we consider the global financial crisis as a benchmark, the magnitude and the impact on the drivers of occupancy rate due to the pandemic is much larger," it said. Markets like Singapore, Indonesia and Hong Kong, where the outbreak began in January, have seen sharp decline in occupancy rates -- much higher than seen during the SARS outbreak in 2003 when it fell to sub-20 per cent from around 70 per cent in China. "A similar situation in India cannot be ruled out, should the outbreak continue and containment remain limited," the report warned. BEN RVK

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