Salaries at top hospitality companies in India rose by 4-7% over the past two years as the global recession knocked the wind out of the sector, according to the latest hotel compensation survey by consultancy firm HVS. Pay cuts were the norm across employee levels as occupancies and room rates crashed, but resident managers took [...]
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Hospitality revival spurs PE interest
Global private equity and real estate funds are looking to check into mid-market hotels with occupancy and room rates in major markets picking up in recent months.
India tourism receipts down 14.8 pct in Jan-Aug
India saw a 14.8 percent decline in gross tourism receipts to $6.9 billion in Jan-Aug as the global economic slump and fears of rising cases of H1N1 infection discouraged visitors, data showed on Wednesday.
Now, hotels can get loans at lower rates
In a bid to encourage investment in the hospitality sector, the RBI recently notified that hotels be taken out of the high risk category of real estate exposure. This will ensure that banks will give loans to companies at a lower interest rate.