Welcome to KePSLA’s first Monthly Travel and Hospitality Roundup. We know it is very tough to keep up with the latest trends and news in the travel biz, so we’d like to help you by putting together latest news and trends from the industry so that you can read it all in one place. Let us know your views in the comment box below and do subscribe to our blog for latest updates. Happy reading!
Where 2017 has been a great year for travel with many new destinations and thrill-seeking travelers, 2018 will take things even further. In 2017, 40% of bookings were for trips longer than two weeks, but for trips already booked for 2018, 50% are more than two weeks in duration. Read more.
India-based company MakeMyTrip is operating at a net loss so far, this year even though it has shown double-digit growth in revenue for airline tickets, hotels and vacation packages. It is also beginning to see the effect of global giant Booking.com ramping up its hotel inventory in the country. “Booking is not a company which we take lightly,” Kalra said during his company’s quarterly earnings call earlier this month. Read more.
Occupancies in hotels that charge Rs. 7,500 or more a night have dropped in the first month after the country rolled out goods and services tax, according to online travel sites. A levy of 28%, the highest rate under GST, is imposed on hotels with room tariff of Rs 7,500 or more. Those that charge less face GST at 12% or 18%. “The Yatra monsoon survey revealed that 56% respondents said their preference for luxury travel has been affected following GST,” said Sharat Dhall, chief operating officer (B2C) at Yatra-.com. Read more.
Accor Hotels expands luxury and upscale portfolio in Asia Pacific with six new hotels in three months
Accor Hotels, the world-leading travel & lifestyle group, is strengthening its Asia Pacific presence in the luxury hotel space with six confirmed luxury and upscale openings in the next three months. Read more.
The world’s largest hotel chain which begun its operations in the country in 1997 with a project in Goa, currently has 86 hotels and 15 brands spanning 35 cities. American hospitality group Marriott International Inc will have 100 operational hotels in the country by 2018, a top executive has said. Read more.