Chennai, Sep 19 (Inditop.com) The hospitality sector is poised for brighter days after a bad year that saw its turnover falling by 25-40 percent, according to a hotel industry official.
“Prudent cost-control measures coupled with government initiatives like the Visit India campaign has helped the hotel industry,” South Indian Hotels and Restaurants Association (SHIRA) president M.P. Purushothaman said here Saturday.
“With the economy looking up, the hotel industry is going to benefit and grow to satisfying levels,” Purushothaman told reporters after getting re-elected as SHIRA president at the association’s annual general meeting.
According to him, revival signs were already visible, with the tourism sector’s foreign exchange earnings rising to Rs.50,730 crore in the fiscal 2008 from Rs.44,360 crore the year before.
Purushothaman also said that in order to boost the industry, the government should levy a four percent uniform luxury tax rate on actual tariff, exempt hotels from the ambit of service tax ambit and grant infrastructure status to the sector.
