Revenue growth for the Indian hotel industry to improve to 6%-7% in FY2018: Bakaya

Ajay K. Bakaya, Managing Director, Sarovar Hotels & Resorts expects the revenue growth for the Indian hotel industry to improve to 6%-7% in FY2018. He says, “The revenue growth for the Indian Hotel Industry is expected to improve to 6%-7% in FY2018. The muted supply pipeline across several markets coupled with steady demand uptick will be the driver for the next up cycle in the industry over the next couple of years. The implementation of GST brought in a positive change to the sector by reducing costs for customers, harmonizing taxes, and reducing business transaction costs. With steady occupancy across markets, we are expecting a healthier growth in the coming years and higher movements of business as well as leisure travellers.”