A survey conducted by FICCI has revealed that the Indian Hotel Industry is on its way to recovery. Over 75% of the respondents expressed that their business will improve in the coming six months.
The FICCI report said, “"While nearly 40 per cent of the participants said the current performance of their industry is moderately-to- substantially better than the last six months, nearly 75 per cent feel that the hotel industry's performance would improve in the next six months.”
The survey showed that five-star hotels in the country are eyeing better business structures as there is an increase in the number of foreign tourists. In the same manner, domestic corporate travel is also showing hopes of recovery.
The survey said, “Tourist flows to these hotels are still limited and it will take some time for them to pick up..”
The hotel industry in India was badly affected after the Mumbai terror attacks in November 2008, and the average occupany rate fell to 50 percent.