Hotels, Airlines, Liquour Firms Eye Spurt in Revenue on Rising New Year Sale: Report

Hotels in the five star & three star categories along with the airlines have jacked up their tariff this week as the trend for the well-off and even middle class families to go on vacation during the year-end has only increased year after year, reveals the ASSOCHAM paper.

Hotels, Airlines, Liquour Firms Eye Spurt in Revenue on Rising New Year Sale

An ASSOCHAM reports indicate that hotels in major tourist destinations and big metropolitan cities have increased room rates by 40-55 per cent while in some of the sought after locations like Goa, the room rental this week is double or three times the rates in September-October. Star rated hotels in the metros have upped the prices in their hotels and hiked the room tariffs by nearly 45 per cent to cash in on the festive mood of party revelers.

Likewise flights on the Delhi-Mumbai, Mumbai-Goa, Delhi-Chennai, Delhi - Trivandrum, Delhi-Kolkata, Mumbai-Kolkata and towards other southern locations have expensive by more 40 per cent as compared to the rates in September-October, a quick check by the ASSOCHAM researchers noted.

Occupancy in places like Goa, Trivandrum are about 100 per cent while even in major cities, the occupancy in hotels is well past 70-80 per cent during the mid-week, while on the December 31 and January 1 right up to the week-end, it is above 85-90 per cent, giving the hotels chance to make the best of new year season.

The source for chambers findings is ASSOCHAM hospitality industry has large number of members who briefed it of latest emerging trends available with them for New-Year's Eve celebrations.

According to them, the youngsters would like to spend a good amount for new year's celebrations as a result of economic boom that the services sectors has been experiencing and their owners have already made provisions for yearly leave, particularly beginning Christmas, said D S Rawat, Secretary General, ASSOCHAM.

"New Year celebrations are taking new formats with more and more families willing to splurge. Tech trend is more among the well -paid professionals in the IT, private sector banks etc", ASSOCHAM General Secretary MD S Rawat commented.

Read more about: assocham
Story first published: Wednesday, December 31, 2014, 9:20 [IST]
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