Every second room in Indian hotels is going unoccupied, as India’s hospitality sector grapples with a slowdown.
According to the Federation of Hotels & Restaurant Associations of India (FHRAI), average hotel occupancy in 2012-13 dropped to the lowest in a decade at 58.3 per cent and average room rate fell to `6,214, the lowest in six years. Downturn has hit the Indian hospitality sector, dragging occupancy and daily room rates down.
In the first four months of the year, both occupancies and room rates softened. While in January occupancy was marginally up by 3 per cent, in February it dropped by 1.6 per cent and in March by as much as 6 per cent as compared to the same period last year.
Full report here New Indian Express