Source: Business Standard, Jan 23, 2018
have been able to negotiate a tariff increase of up to 15 per cent in their contracts with corporate clients for the calendar year 2018. Corporate clients form more than half of the business for most branded hotels, especially in cities.
“Hotels have successfully negotiated better rates for the year 2018 with corporate clients. Based on the negotiation, most hotels are budgeting for an increase of 10-15 per cent in tariffs this year. The year 2017 was a story of occupancy growth and 2018 is going to be about rates. In the past few years, the rate increase had not been to our expectation and there were periods of no increase at all,” said Raj Rana, chief executive officer (South Asia) at Carlson Rezidor, which operates 89 hotels in the country under brands like Radisson and Park Plaza. Read the rest of this entry »