Comments
The thrust on infrastructure and rural development in the Budget is good news for the hospitality sector as it will open up new avenues for expansion, say industry players.
The Centre has earmarked ₹2,21,246 crore for infrastructure development, with ₹97,000 crore for the road sector, and plans to revive 160 non-functional airports at a cost of ₹50-100 crore each.
Jean Michel Casse, Senior Vice President, Operations – AccorHotels India, said while there are no direct provisions for the hospitality sector in the Budget, strengthening infrastructure will bolster India’s position as an attractive tourist destination, which will benefit the hospitality sector.
“Enhancing regional and last mile connectivity, especially to untapped regions like the North-East, will open up fresh avenues for expansion for hotel chains,” he added.
Domestic travelIncreased connectivity and accessibility will also give a fillip to outbound domestic travel from tier-II and III cities, thus offering greater growth avenues. Casse said there are no details about allocation for the Incredible India campaign, which will also have an implication on expansion plans.
Palani G Periasamy, Chairman, PGP Group of Companies, which has a presence in hospitality and residential real estate, said that though infrastructure opens up avenues for hospitality, tourism as a sector should have been a focus, as it is one of major foreign exchange earners.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.